QUESTION Leonard and Pennyeda selatively modestfestyle and have 2 children and 11). They come to you to discuss a financial plan. The couple does a great job provides free of charge $500.000 formie insurance policy. The couple este plante Leonard earns $90.000 per year she tax and es ha sotton himselfIt expected his salary will go up by per year and the inflation will be per year. Even though Parny work, the couple needs Leart income to maintain their lifestyle Uue the Human Value Lite Approach to determining to insurance needs tuning Leonard on working for more years. Het they do have the $500.000 policy in place from LONGsemployer (1 points) Describe the distinguishing features of whole life insurance and term life insurance in terms of premium amount, deather, and the expected role of return Based on this and the information presented above justify whether you would recommend a whole offerte 114 points) Analyte the role of risk tolerance and capacity in choosing a risk management strategy. Specifically, state this by using the fact in a health insurance policy (10 points Remaining Time: 08 minutes, 44 seconds. Save Antwer Question Completion Status: QUESTION 9 38 points Leonard and Penny lead a relatively modest lifestyle and have 2 children (8 and 11). They come to you to discuss a financial plan. The couple does a great job saving roughly 10% of their Income and has a nice investment portfolio. The topic of life Insurance comes up during the conversation. Leonard says his company provides free of charge a $500,000 term life insurance policy. The couple feel this is plenty. Leonard earns $90,000 per year after tax and uses 30% of the total on himself. It is expected his salary will go up by 3% per year and the inflation rate will be at 2% per year. Even though Penny works, the couple needs Leonard's income to maintain their lifestyle. Use the Human Value Life Approach to determining life Insurance needs assuming Leonard plans on working for 25 more years. Hint: they do have the $500,000 policy in place from Leonard's employer. (14 points) b. Describe the distinguishing features of whole life insurance and term life insurance in terms of premium amount death benefits, and the expected rate of return. Based on this and the information presented above justify whether you would recommend a whole life or term life plan. (14 points) Analyze the roles of risk tolerance and capacity in choosing a risk management strategy. Specifically, illustrate this by using the example of a deductible in a health insurance policy. (10 points) Chick Save and Submit toate and submit. Click Save All Aniers to see all ansers Save AA Save and Submit QUESTION Leonard and Pennyeda selatively modestfestyle and have 2 children and 11). They come to you to discuss a financial plan. The couple does a great job provides free of charge $500.000 formie insurance policy. The couple este plante Leonard earns $90.000 per year she tax and es ha sotton himselfIt expected his salary will go up by per year and the inflation will be per year. Even though Parny work, the couple needs Leart income to maintain their lifestyle Uue the Human Value Lite Approach to determining to insurance needs tuning Leonard on working for more years. Het they do have the $500.000 policy in place from LONGsemployer (1 points) Describe the distinguishing features of whole life insurance and term life insurance in terms of premium amount, deather, and the expected role of return Based on this and the information presented above justify whether you would recommend a whole offerte 114 points) Analyte the role of risk tolerance and capacity in choosing a risk management strategy. Specifically, state this by using the fact in a health insurance policy (10 points Remaining Time: 08 minutes, 44 seconds. Save Antwer Question Completion Status: QUESTION 9 38 points Leonard and Penny lead a relatively modest lifestyle and have 2 children (8 and 11). They come to you to discuss a financial plan. The couple does a great job saving roughly 10% of their Income and has a nice investment portfolio. The topic of life Insurance comes up during the conversation. Leonard says his company provides free of charge a $500,000 term life insurance policy. The couple feel this is plenty. Leonard earns $90,000 per year after tax and uses 30% of the total on himself. It is expected his salary will go up by 3% per year and the inflation rate will be at 2% per year. Even though Penny works, the couple needs Leonard's income to maintain their lifestyle. Use the Human Value Life Approach to determining life Insurance needs assuming Leonard plans on working for 25 more years. Hint: they do have the $500,000 policy in place from Leonard's employer. (14 points) b. Describe the distinguishing features of whole life insurance and term life insurance in terms of premium amount death benefits, and the expected rate of return. Based on this and the information presented above justify whether you would recommend a whole life or term life plan. (14 points) Analyze the roles of risk tolerance and capacity in choosing a risk management strategy. Specifically, illustrate this by using the example of a deductible in a health insurance policy. (10 points) Chick Save and Submit toate and submit. Click Save All Aniers to see all ansers Save AA Save and Submit