Saroimdad answered like below on 09/29/2020. But all of them are totally wrong.

Please have a excellent tutor like Phionanampijja8 to re-do this homework and send to me in ASAP. This is the 3rd time requesting with the same one.

It is due by Oct 10'2020 Please finish it in ASAP.

Reference

Entrepreneurial Finance Sixth Edition.

Recommended group Activities. P395 Chapter 11

1.Given three entrepreneurs: one is in her early 20s, two is in his mid-40s, and the third is just approaching 65, Each one is married with two children. What type of health and casualty insurance would you recommend to these individuals?

; Homeowner's Insurance: There are certain geographical locations that are more prone to natural disasters. This policy will provide insurance against floods and earthquakes.

2. In pension planning, some people rely on the Social Security system for their entire retirement program. Using two groups, have one argue for Social Security and have one argue against the system.

; Automobiles: There are many cities thar are highly crowed and has high number of automobile owners. There are various cities where the likelihood of an accident to occur is higher.

3. The current Social Security System takes a 6.2 percent payment from the employee and a 6.2 percent payment from the employer for a total of 12.4 percent of income. Determine your group's average current age and average income. You have the option of investing 12.4 percent of your income in a self-directed IRA. Based on historical growth rates, how much will you have in your individual retirement program at the retirement age of 67 if you invest your money in a DOW Jones Industrial Average Index fund? Would you rather have the current system or one which is self-directed?

; All the entrepreneurs advised to undertake business interruption insurance.

For third person who is approaching 65, it would be recommended to have Medicare policy. (Medicare part C)

Medicare: Federal government has provided federal health insurance program for a person who is 65 or above. It has four parts;

1.Medicare Part A

2.Medicare Part B

3.Medicare Part C

4.Medicare Part D

Medical Part C: This has Medicare Supplemental insurance plans.

Health Insurance: Health insurance is taken to take care cost of uncertain medical issues or other health problems. By taking health insurance a person transfers the risk to insurance company.

For first and second entrepreneur it is prudent it recommends long-term care insurance and disability insurance.

Long term care Insurance: This helps the person if she/he has chronic illness.

Disability insurance: such insurance is taken for the time when person might face some disability and may not be able to earn an income.

Insurance: This is an arrangement between two parties, wherein one party (state or company) takes charges of providing guaranteed compensation for certain losses and damages to a person in return of a specified amount of premium. Thus, the buyer has to pay a premium this guaranteed compensation.