Question

1. Calculate how much life insurance you need?

Male 28, $50,000 Income, 200,000 Home Loan. Married, no kids yet. Healthy.

2. Choose the best life insurance policy for your needs at the lowest price.

3. Explain the concept of risk and the basics of insurance underwriting.

4. Discuss the importance and basic principles of property insurance including the types of exposure, indemnity and co-insurance.

5. Will the Republicans repeal and replace "the Affordable Care Act?"

6. Even if you don't live in "Flood Plain Area", would you still recommend flood insurance?

7. Your opinion. Is is better to obtain a "whole Life Insurance Policy " as a savings instrument of invest that money is a mutual fund?

Grading rubric for assignments.

A-a scholarly response, which addresses the questions.   Paragraph format with in-depth explanations with examples;

B-fully developed answers addressing the issues in a paragraph format, no grammar and/or spelling problems, explanations and examples;

C- complete sentences addressing the question;

D-one word bullet answers;

Answer 1

1. Assuming that your family will need 5 years to replace current income of you, you would require insurance of $ 200000 + $ 50000 x 5 = $ 450,000. It is further assumed that there is no other debt on you and other expenses of funeral would be met by your family.

2. The most economical policy is provided by Legal & General at $ 226.48 annual premium for a period of 20 years. (ttps://nerdwallet.quotacy.com)

3. Risk is the potential that any future event will lead to loss or expense to be incurred. In terms of insurance company, risk is the probablity that a policyholder would claim for the polivy amount in case of any event. As a general principle, more the risk more the premium amount.

Insurance underwriting is the analysis by the insurance company of the exposure to the risk for the insurance policy holder, the requirement of the insurance and how much would be needed along with the premium amount.

4. Yes, it is possible that Republicans repeal and replace "the Affordable Care Act?"

5. Yes, because of a danger of melting snow and other water sources it is adivsable to have flood insurance.

Please note that in case of multi part question an expert is allowed to answer only for sub parts. I have solved 5 for you. Thanks.