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2.) Use worksheet 8.1 Given your current personal financial situation do you feel you need life insurance coverage.? Why or why not? Use worksheet 8.1 to confirm your answer and calculate how much additional insurance if any you might need to purchase. 5.) Use worksheet 9.2 Bruce Kaplan a 35 year old computer programmer earns $ 72,000 a year. His monthly take home pay is $ 3,750 His wife Barbara works part time at their children’s elementary school but receives no benefits. Under state law barbras’s employer con tributes to a workers compensation insurance fund that would provide $ 2,250 per month for six months if Bruce were disable and unable to work. a.) Use worksheet 9.2 to calculate Bruce’s disability insurance needs, assuming that he won’t qualify for Medicare under the social security benefits. b.) Based on your answer in part A what would you advise Bruce about his need for additional disability income insurance? Discuss the type and size of disability income insurance coverage, he should consider, including possible provisions he might want to include. What other factors should he take into account if he decides to purchase a policy? 4.) Fred and Sasha Seidel both graduate students, moved into an apartment near the university. Sasha wants to buy renter’s insurance, but Fred thinks that they don’t need it because their furniture isn’t worth much. Sasha points out that among other things they have some expensive computer and stereo equipment. To help the Seidels resolve their dilemma suggest a plan for deciding how much insurance to buy and give them some ideas for finding a policy. 5.)David Salter has a PAP with coverage of $ 25,000/$50,000 for bodily injury liability,$25,000 for property damage liability,$ 5,000 for medical payments and $ 500 deductible for collision insurance. How much will his insurance cover in each of the following situations? Will he have any out of pocket costs? a.)David loses control and skids on ice, running into a parked car and causing $ 3,785 damage to the unoccupied vehicle and $ 2,350 damage to his own car. b.)David runs a stop sign and causes a series auto accident badly injuring two people. The injured parties win lawsuits against him for $ 30,000 each. c.)David’s 18 year old son borrows his car. He backs into a telephone pole and causes $450 damage to the car

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