The assignment is for teams of 4. If you want, you need to inform me by e-mail. Please send one e-mail with the name and student number of group members and CC all group members in the e-mail. by June 30th. If you want to do it individually, you may do so. I will mark groups and individuals differently.
Title: The Six Step Planning Process related to Risk Management
Pick a young married couple of your choice (let’s call them John 40, and Mary 38) with two small children ages 3 and 5 and go through the six step planning process with them as it relates to risk management.
I have provided the family’s income and expenses plus their assets and liabilities. Use the tables attached to tell me their story.
Make John the breadwinner and Mary stay at home mom who will take care of the kids.
What are their needs for Risk Management (insurance)? Because John is the only person working outside the home, what will happen to the family if John dies today? How much insurance they need? Expect that the children need taking care of until they finish university at age 22. You need to d an insurance Needs Analysis and come up with exact dollar amounts as to how much insurance they need. To come up with a dollar amount, you also need to do n Education Needs Analysis for the children’s post secondary education.
Steps to take
1)
