BUS215 – Week 3 discussion 2 – Life Insurance
1st Posting Due by Day 3. Life Insurance. 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. Respond to at least two of your classmates’ postings
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Life insurance
Life insurance is very important for any person. It means that you have your life and future secured or that of your beneficiaries. I think that I need life insurance for myself that will become a source of secured future for my beneficiaries. In this regard, I think that I need a life insurance cover of five million. This is a good amount of money that will keep my beneficiaries running in case I die or suffer any financial set back. ….
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