Risk and insurance case study

CASE APPLICATION Sam, age 35, and Kristy, age 33,a one-year-old son. Sam is employed as an accountant and $80,000 annually. Kristy is a professor of finance large state university and earns $160,000 annually during the academic year. Both are insured under the OASDI program. Assume you are a financial planner who is asked to give them advice con- cerning OASDI and other social insurance programs. Answer each of the following questions based on the following situations. Treat each situation separately a. Sam is killed instantly in an auto accident. To what extent, if any, would the surviving family members be eligible to receive OASDI survivor benefits? b. Kristy has laryngitis that damaged her vocal cords. As a result, she can no longer teach. She is offered research position in the business research bureau of the university where she is employed. To what are married and have a extent, if any, would Kristy be eligible to receive OASDI disability benefits? c. A deranged student fired a pistol she gave him a grade of D. As a result, Kristy seriously injured and is expected to be off work for at least a year while she is recovering. To what extent, if any, would existing social insurance pro- grams in the United States provide income during the period of temporary disability? d. Sam would like to retire at age 62 and still work part time as an accountant. He has been informed that the OASDI earnings test would be relevant in his case. Explain how the earnings test might affect his decision to work part time after retirement. e. Sam resigned from his job position. Explain whether Sam could receive unem- ployment insurance benefits during the period of temporary unemployment before he finds a new earns Kristy because at at a was currently and fully to find a higher-paying a job. Aa 12:03 AM 10/6/2019 CASE APPLICATION Sam, age 35, and Kristy, age 33,a one-year-old son. Sam is employed as an accountant and $80,000 annually. Kristy is a professor of finance large state university and earns $160,000 annually during the academic year. Both are insured under the OASDI program. Assume you are a financial planner who is asked to give them advice con- cerning OASDI and other social insurance programs. Answer each of the following questions based on the following situations. Treat each situation separately a. Sam is killed instantly in an auto accident. To what extent, if any, would the surviving family members be eligible to receive OASDI survivor benefits? b. Kristy has laryngitis that damaged her vocal cords. As a result, she can no longer teach. She is offered research position in the business research bureau of the university where she is employed. To what are married and have a extent, if any, would Kristy be eligible to receive OASDI disability benefits? c. A deranged student fired a pistol she gave him a grade of D. As a result, Kristy seriously injured and is expected to be off work for at least a year while she is recovering. To what extent, if any, would existing social insurance pro- grams in the United States provide income during the period of temporary disability? d. Sam would like to retire at age 62 and still work part time as an accountant. He has been informed that the OASDI earnings test would be relevant in his case. Explain how the earnings test might affect his decision to work part time after retirement. e. Sam resigned from his job position. Explain whether Sam could receive unem- ployment insurance benefits during the period of temporary unemployment before he finds a new earns Kristy because at at a was currently and fully to find a higher-paying a job. Aa 12:03 AM 10/6/2019