Question
The Brocks are assessing their health insurance coverage. Since Josh's current employer offers him only 30 days of sick leave, they need to consider this
The Brocks are assessing their health insurance coverage. Since Josh's current employer offers him only 30 days of sick leave, they need to consider this factor when assessing disability insurance plans.
Life Situation | Financial Data | |
Pam, 36 Josh, 38 3 Children, ages 9, 7 and 4 | Monthly income | $4,300 |
Living expenses | $4,075 | |
Assets | $50,850 | |
Liabilities | $99,520 |
Since Pam's work activities have varied, the family is dependent on Josh's health insurance. In recent weeks, his company is considering several types of plans. These alternatives include traditional health insurance programs and HMOs, with a wide variety of coverage and cost differences.
Both Pam and Josh Brock are pleased with their lives and various family activities. They now have three children, are enjoying their home, and are more financially secure than six years ago. Yet the Brocks still have financial needs they must address.
Several changes have affected their financial planning. The value of their home has increased due to inflation and home improvements. They have purchased a used car to meet additional transportation needs. These situations must be considered in relation to insurance needs for the Brock household.
1. Q1. When considering disability income insurance, what length of waiting period and duration of benefits should the Brocks consider?
2. Q2. What types of health insurance coverage would be recommended for the Brocks?
3. Q3. How should the Brocks determine whether they have enough insurance coverage for their home?
4. Q4. What factors should the Brocks consider in deciding whether to purchase collision insurance coverage for their used car?
Please make sure to include at least one online article to support your answer and use proper MLA in-text citations and Works Cited formatting.
Step by Step Solution
3.34 Rating (157 Votes )
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started