Roni, age $43$ and Ana, age $40$ have $6-$year$-$old twins. Ana has not worked since the twins were born. She thought about going back to work since the twins were going to go to first grade.

Roni was hospitalized with Covid$-19.$ He is home recovering, but still suffers from respiratory issues and is always short of breath, has brain fog, and on certain days can$$t get out of bed. The doctors say he will need months to recover. Luckily, his health insurance policy will cover all of the costs. Now Ana has to put off her plans to work because of Roni$$s illness. They are worried about finances, and what will happen if Roni dies. He did not buy permanent life insurance when the twins were born because he just never anticipated being ill.

$1.$ Roni and Ana are asking for advice on buying life insurance: What would you tell them about permanent life insurance and term life insurance given their circumstances? Explain.

$($a$)$ Permanent life insurance:

$($b$)$ Term life insurance:

$($c$)$ Is there a specific type of policy that Roni should consider? Why?

$2.$ What are Ana$$s life insurance options? Explain.

$3.$ Roni's company closed, so now he is worried about health insurance coverage. Will his Covid history prevent him from obtaining health insurance coverage? Explain.

$4.$ Roni$$s father is interested in helping to fund the children$$s education. What are two types of tax advantaged financial vehicles he might consider? Explain.

$($a$)$

$($b$)$

$5.$ Ana$$s mother is willing to provide full time childcare so Ana can go back to work. She will also cook and try to look after Roni while the children are in school. For her birthday, Ana bought a lottery ticket and won $$250,000.$ They decided that the money would go into investing for their future. What are $5$ factors that the family should consider in making their investment plan?

$($a$)$

$($b$)$

$($c$)$

$($d$)$

$($e$)$