Monday, May 6, 2019

BUSI 2060 Personal Finance Assignment Example | Topics and Well Written Essays - 500 words

BUSI 2060 Personal Finance - Assignment ExampleSecond, a whole life constitution combines a term policy with a interchange investment component. The parcel out will remain applicable even when she changes employers unlike the group policy.I disagree because a large amount right would look on that she pays high schooler premiums. This is almost impossible because she has four dependants and her job would not provide adequate income to cover for entirely the living expenses including the restitution policy (Brown, put up & Currie, 2001). A whole life insurance policy is the go around guarantee because a percentage of the premium can be used in creating a cash value. Afterwards, the cash value can be used to pay off the entire policy afterward a few years. A whole life cover is also desirable given that it ensures that a policy holder saves on taxes. Generally, a whole insurance policy would have a high cash value in the event of death and this could mean that dependants will have enough to clog them.I disagree with the young couple because the insurance cover is almost half the combined income of the class but does not spread risk. The two couples earn an annual combined income of $57,000 and incur $25,000 as insurance expense. The amount of insurance does cover most of the risks but does not cover for the death of the head of the family (Brown, Chambers & Currie, 2001). Should the man die, the mother of the children will be forced to cover for both her insurance expenses and that of the children. She earns an annual income of $12,000 magical spell the combined insurance expense for the survived family members is $15,000. This means that she will be forced to renegotiate the insurance cover of which it will expose the family members to additional risks.I agree with the retired couple because the surrender value is less than half of the whole life policy. The two do not have dependents and can survive on their indemnity income as well as their inve stments. They have reached a late stage in their life and cashing in $12,200 would mean that they

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