Assignment 1: Your plan Part 1: Imagine that you will live at least 70 years mo


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Assignment 1: Your plan
Part 1: Imagine that you will live at least 70 years more (e.g., your expectation is around 90). And imagine that you will marry a few years after graduating Purdue. Also, imagine that you will have a relatively good starting salary with at least a salary of $80,000/year. Use one of the two methods (e.g., human value method, and financial needs method), and estimate how much should you have as your life insurance face value? There is no correct or incorrect answer for this because your future life is not defined yet. So, just imagine how you’d like to live and how you’d like to plan. To answer for this question, please describe your future life first. Then, you may know how much your future (or current) family will need by your premature death. (At least 200 words, 15 points)
Part 2: Based on above answer, please find an appropriate types of life insurance. To answer for this, you should consult the PPT file on Brightspace. See the PPT file (https://purdue.brightspace.com/d2l/le/content/554377/viewContent/9763107/View, final file at the Week 3 – Ch.8 RV), then you will see “WHAT kind of life insurance we may purchase?” part in the middle. After the Purdue gold page, you will see the various types of life insurances. Please read it carefully and choose one of the life insurances for your future life. And explain why you choose the specific type of life insurance for your life. (At least 200 words, 15 points)
Assignment 2: Your advice
Joshua is president of an accounting firm that has 10 employees. The only employee benefit provided by the firm is a paid two-week vacation for employees with one or more year of service. The firm’s profits have substantially increased, and Joshua would like to provide some additional benefits to the employees. Joshua needs advice concerning the types of benefits to provide.
Q1. Joshua would like to provide health insurance benefits to the employees. Describe the major types of Managed Care Plans that he might consider (at least 200 words, 20 points). Tip: HMO, PPO, and POS should be explained.
Q2. Are there any other group health insurance benefits that Joshua might consider? Explain you answer (at least 100 words, 10 points)

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