TO: Dale Peters, Instructor
FROM: Alexandra Boerger, Student
DATE: April 7, 2018
Subject: Life insurance
A lack of insurance is not necessarily bad at certain points in ones life, but planning for your future is extremely important. Life insurance is insurance that one should look into or re-evaluate after a major life event or yearly once a policy is created. Life insurance is provided in case of premature death and will help against financial loss. When an individual purchases this insurance, they name a beneficiary that receives the money. The insured pays for this insurance through premiums, which are agreed amounts with the insurer and stated in a contract. Common forms of life insurance are whole life, universal life, variable …show more content…
• Haven’t purchased anything large enough that would require a beneficiary.
• Haven’t experience a major life event (kids, marriage, etc.) where I would label a beneficiary
• If I were experience a premature death, my parents medical insurance and income would be able to cover my expense.
• Based upon my used of the life insurance calculator, I should increase my life insurance. I should purchase some form of life insurance that could help with certain expenses in case of premature death.
• Based upon the chapters and commentary on D2L, I would purchase term life insurance. I am at a state in life where I believe I only need to be covered and/or protected for a specific period of time. When I start experience life events, kids, marriage, making substantial money, I will change my life insurance policy from term to either whole life insurance or universal life insurance. o Term Life insurance: an individual is buying protection for a specific period of time. The individual is paying premiums that are priced for each year or over a couple of years.
• Premium: this is the amount of money an insurer charges the insured for a certain policy that the insured
FROM: Alexandra Boerger, Student
DATE: April 7, 2018
Subject: Life insurance
A lack of insurance is not necessarily bad at certain points in ones life, but planning for your future is extremely important. Life insurance is insurance that one should look into or re-evaluate after a major life event or yearly once a policy is created. Life insurance is provided in case of premature death and will help against financial loss. When an individual purchases this insurance, they name a beneficiary that receives the money. The insured pays for this insurance through premiums, which are agreed amounts with the insurer and stated in a contract. Common forms of life insurance are whole life, universal life, variable …show more content…
• Haven’t purchased anything large enough that would require a beneficiary.
• Haven’t experience a major life event (kids, marriage, etc.) where I would label a beneficiary
• If I were experience a premature death, my parents medical insurance and income would be able to cover my expense.
• Based upon my used of the life insurance calculator, I should increase my life insurance. I should purchase some form of life insurance that could help with certain expenses in case of premature death.
• Based upon the chapters and commentary on D2L, I would purchase term life insurance. I am at a state in life where I believe I only need to be covered and/or protected for a specific period of time. When I start experience life events, kids, marriage, making substantial money, I will change my life insurance policy from term to either whole life insurance or universal life insurance. o Term Life insurance: an individual is buying protection for a specific period of time. The individual is paying premiums that are priced for each year or over a couple of years.
• Premium: this is the amount of money an insurer charges the insured for a certain policy that the insured