Download the Lesson 7 Exercise Template (I have attached it )
and use the case study information below to complete both parts of the
assignment. Please keep everything on the excel sheet it has to be turned in
that way.
Note: The Excel template
has two tabs-one for each part of the assignment. Be sure to answer all
questions and complete both sections of the template.
Case Study #1
Part 1: Life Insurance Analysis
Case Study
Harvey Cook, 45, is a recently divorced father of two
children, ages 10 and 7. He currently earns $105,000 a year as an operations
manager for a utility company. The divorce settlement requires him to pay
$1,500 a month in child support until his last child turns 18, and $400 a month
in alimony to his ex-wife for 20 years.
The settlement also requires that he pay for both children to attend 4 years of
college, which he figures will be $200,000. He also thinks he will need $10,000
to cover his final expenses. If he were to die, his children would get $1,000 a
month until age 18 in Social Security benefits.
Harvey is now renting an apartment, and the divorce settlement left him with
about $100,000 in savings and retirement benefits. His employer provides a
$75,000 life insurance policy. Harvey’s ex-wife is currently the beneficiary
listed on the policy.
Case Study #2
Part 2: Health Insurance Analysis
Case Study
Lisa Johnson, a recent college graduate, has decided to
accept a job offer working for a nonprofit organization. She has been offered a
starting salary of $50,000 a year.
The organization does not provide any health benefits for employees but does
provide some disability coverage. Lisa estimates that her monthly living
expenses will be about $3,500 a month, including rent, food, transportation,
and clothing. She has no major health problems and expects to remain in good
health in the near future. Lisa’s employer contributes to a workers’
compensation insurance fund that would provide $1,250 per month for 6 months if
Lisa were disabled and unable to work.
Visit HealthCare.Gov:
See Pricing and Plans(opens in a new tab) for plan features and
prices.
https://www.healthcare.gov/see-plans/
