You are a consultant providing insurance solutions to individual customers. You have approached by Anupam to consultant. The following information you have captured -Anupam, aged 35 years works as HR Manager in a MNC organization for the last2 years - Anupam's wife aged 32 is a homemaker His eldest son aged 8 years, studies in class 2 plans to become an engineer then purse MBA His daughter aged 6 years dreams of becoming a Doctor His take home salary is Rs 450.000 annually His employer provides group life insurance in the amount of twice the employee's tax home salary. He also participates in Employee Provident Fund (EPF Pay off mortgage on home 15,00,000 Pay off car loan and credit card debts 150.000 Average Saving Bank Account Balance 200,000 EPF Account Balance 80,000 individual life insurance Cover of 250.000 Amount of Fixed Deposits receiving interest of 59% is 10,000 He wants to ensure that all his risks are covered. He has requested you to suggest all thee different insurance plans he should purchase. He wants you to explain him how each insurance plan will cover his risks by stating the salient aspects of each plan. He gave there example of Group Life Insurance and said want to know what Group Life Insurance He wants you to quantify dearly how much insurance he needs to buy. He said its important you tell, how much of additional life insurance etc. I should buy. Also tell me what the tax advantages of buying insurance are Make an Insurance Planning Report for Anupam based on all his requests, You need to include all information about Anupam plus you are free to make any assumptions needed eg. Average Cost of MBA Education. State clearly all assumptions made and show all calculations.