Question
NEED HELP WITH THIS! DUE IN 5 HOURS! THUMBS UP WITH GREAT APPRECIATION! THANK YOU!!! You are to develop a risk management plan for the
NEED HELP WITH THIS! DUE IN 5 HOURS! THUMBS UP WITH GREAT APPRECIATION! THANK YOU!!!
You are to develop a risk management plan for the Pierce family. Your plan should incorporate insurance and noninsurance recommendations. Provide a complete explanation of your assumptions. Remember to make the work your own.
Case facts:
Joe, 37, self-employed carpenter, four employees, nets $60,000 per year
Anita, 37, part-time nurse, earns $30,000 per year
Children: Nathan (12), Isaac (10), Charlotte (6), Lydia (3)
Assets, in $
Personal
Cash 12,000
Mutual funds 8,000
IRAs 15,000
401(k) 28,000
Car 20,000
ATV 5,000
Boat 10,000
Personal property 95,000
Home 245,000
Business
Truck 30,000
Tools & materials 60,000
Liabilities
Credit cards 6,000
Car 15,000
Home 168,000
Step 1: Identify and evaluate the risks faced by this family. (1/2 page)
Step 2: Explain the noninsurance risk management techniques you recommend for this family. (1/2 page)
Step 3: Recommend and explain appropriate insurance coverage for this family. (1/2 page)
Step 4: Explain the retirement planning options you would recommend for this family. (1/2 page)
Step 5: Explain the estate planning options you would recommend for this family. (1/2 page)
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