3. Insurancea) Michael says, �I and Mary are in good health and fa.docx - 3 Insurance a Michael says � I and Mary are in good health and fairly

3. Insurancea) Michael says, �I and Mary are in good health and fa.docx

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3. Insurance a) Michael says, I and Mary are in good health and fairly young, we don t think we need any life insurance. Evaluate the above statement considering his family s situation. b) Calculate how much life insurance you suggest Michael should buy. c) Identify one policy (How long, how much, type) and the company (Eg, Geico, State Farm, MetLife) that Michael should buy life insurance from. Michael and Mary Gordon Family Michael and Mary Gordon are developing a financial plan to accomplish their goals and objectives. They have great aspirations for the future, however are concerned about their current financial situation. Assume today's date is January 1, 2017 Personal Background and Information Michael Gordon (Age 32): Michael is a Vice President of business development at Cornerstone, LLC, a company that helps firms with their digital presence. He has been employed there since its founding, 8 years ago. The company faces heavy competition and its profitability has been erratic. His job however, is fairly secure. His annual salary is $85,000. He is entitled to a performance bonus of 20-30% of his salary. Owing to industry conditions and poor
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  • Fall '17
  • Bob Maxwell

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