Question
Week Three Life Insurance Exercise As individuals move from one stage of the life cycle to another, their changing financial resources, responsibilities, living situations, and
Week Three Life Insurance Exercise
As individuals move from one stage of the life cycle to another, their changing financial resources, responsibilities, living situations, and life style will have an impact on their financial security. In the chart below, identify the key concerns or questions each person should identify in order to select a life insurance program that will contribute to their financial security now and in the future.
|
Present | Key Concerns/ Question |
in Five Years | Key Concerns/ Questions |
| Mark: high school senior, working part-time, plans to go to college |
| married and expecting first child; graduated from college; wife is a full-time homemaker with no plans for a job |
|
| Sandra: a married woman in her early 20s; free lance artist; husband employed; plans to have a family |
| two-year-old son; recently divorced; free lances full-time |
|
| Ed: a married man in his 40s; a teenage daughter; wife works full-time; substantial mortgage and two car loans |
| daughter has been seriously ill and may be permanently disabled; Ed has recently changed jobs; purchased a vacation home |
|
| Anne: a widow and in her early 60s; grown children; works, elderly, dependent mother lives with her |
| retired; elderly mother has died; recently remarried |
|
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Personal Finance Version 3.1
Authors: Rachel S. Siegel
3rd Edition
1453334807, 978-1453334805
