Life insurance can be used to hedge against future risk, Business & Finance Assignment Homework Help

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Question Description

Life insurance can be used to hedge against future risk of financial loss to others (beneficiaries) due to your (policy holder’s) death. But do you need life insurance, and if you do, how much do you need? Read Chapter 12 and use the methods defined (“The Easy Method,” The DINK Method,” “The Non-Working Spouse Method,” and/or “The Family Need Method) as appropriate to conduct your assessment. Determine whether you need life insurance. Then estimate how much, if any, life insurance you should carry. Should you use “term” or “whole life” to meet your needs? What other life insurance products could you use to meet your financial goals? What is the potential that your life insurance needs will change over your life? What would be a good strategy to deal with that change? Determine what would be best for you now and in the future.  Did this process reveal something new to you? Post to the discussion board a 200 word summary of your decision and what you learned from the experience.

Tutor Answer

AbdulMuqeet1
School: University of Virginia

RUNNING HEAD: LIFE INSURANCE

Life Insurance

RUNNING HEAD: LIFE INSURANCE
We have no idea what life is going to do with us. For this we have to plan our lives
accordingly because this is important for ourselves and families. Life insurance provides
monetary benefits to the beneficiaries and a safe hand in the hour of need. I do need a life
insurance in order to manage my increasing expenses in the near future. I would use “term” to
manage my expenses and I may need $100,000 to $200,000 in next 10 to 15 years because my
kids are growing up and their future expenses are increasing and my job income will not allow
me to fulfill th...

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