Private insurance provides numerous coverages that can be used to meet specific loss situations. For each...

Private insurance provides numerous coverages that can be used to meet specific loss situations. For each of the following situations, identify a private insur- ance coverage that would provide the desired protection:
a. John, age 32, is a single parent with one dependent child. He recently purchased a house for €200,000. He received half of that amount as mortgage loan. He wants to make certain that he will be able to pay the loan in case of his disability.
b. Peter, age 36, is married with three dependents. His wife is a disabled person and is not able to work. As the only breadwinner, he wants to be sure the family will have funds in case of his premature death.
c. Mary, age 44, owns a small tobacco shop – the premises are rented. The total value of goods in her shop amounts €30,000. She has no savings. She wants to make certain she will be able to run her business, if her shop catches fire.
d. Dominic, age 15, is a talented young ski jumper. However, this sport is a risky one; accidents can happen from time to time. As his club does not pro- vide any insurance solutions, his parents want to be sure they are protected, and can cover medical expenses if Dominic suffers a bodily injury during ski jumping.

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Expert Solution

ekkarill92 answered 1 year ago

1. Private insurance provides numerous coverages that can be used to meet specific loss situations. For...

1. Private insurance provides numerous coverages that can be used to meet specific loss situations. For each of the following situations, identify a private insurance coverage that would provide the desired protection: John, age 32, is a single parent with one dependent child. He recently purchased a house for €200,000. He received half of that amount as mortgage loan. He wants to make certain that he will be able to pay the loan in case of his disability.   Peter, age...

4. Private insurance provides numerous coverages that can be used to meet specific situations. For each...

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