Personal Finance - Insurance, including all of the types of insurance
Question # 00834851 Posted By: Updated on: 11/26/2022 04:11 AM Due on: 11/26/2022
- Insurance, including all of the types of insurance listed below in #1 and all of the insurance factors below in #2.
- Investing, including all of the investment factors listed in #3 below.
- Types of Insurance to be discussed (make a heading for each of the types of insurance in your discussion)
- Auto, including COLLISION, COMPREHENSIVE, LIABILITY
- Homeowners or renters (whichever applies to you)
- Life (compare whole life with term life and which do you think is better)
- Factors to discuss for each type of insurance:
- Insurance type
- Type of loss covered
- Likelihood that your financial health would be in jeopardy if the insured event occurs (consider the greatest type of event covered by each insurance – for example, your car is totaled). Where could you get a start at identifying values?
- Likelihood that you and your family may encounter this type of loss.
- Is this type of insurance required by any aspect of Government, your bank, or other legally binding requirement?
- Why you should or should not purchase this type of insurance.
- Read the Module 2 Case Background information and pay attention to areas relating to the questions below.
(Note - the Investopedia sections that relate to the topics are in parentheses after the questions.)
- How would you characterize your risk tolerance? (https://www.investopedia.com/terms/r/risktolerance.asp)
- Give a brief description of Bonds, Stocks, Mutual funds, and one Alternative Investment (https://www.investopedia.com/articles/basics/11/3-s-simple-investing.asp)
- Briefly explain diversification in the context of an individual's investment portfolio (https://www.investopedia.com/terms/d/diversification.asp).