Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Mr XYZ is self-employed. Last year, his business generated a profit of GH 50,000. He also receives dividend of GH 3,000 paid by a multinational

image text in transcribed

Mr XYZ is self-employed. Last year, his business generated a profit of GH 50,000. He also receives dividend of GH 3,000 paid by a multinational company where he is shareholder. He contacts you to purchase a life insurance plan because he has a serious underlying medical condition. i. As an insurance broker, what is the right insurance plan Mr. XYZ should purchase and explain how you will convince Mr. XYZ to purchase the insurance plan chosen. ii. Write the present value of the cash flow of the insurance plan purchase in (i) with the premium you will charge. (20mks)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Students also viewed these Accounting questions

Question

5-8 What are the advantages and disadvantages of the BYOD movement?

Answered: 1 week ago