Risk Management

Risk Management - * * * * RiskManagement

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Risk Management * Includes all insurance: life, auto, home, etc. * Life Insurance:  purpose is to care for the  loved ones you leave behind at your death * Term:  “rent” coverage for term of policy; can be a  level or increasing premium payment; potential to  convert to whole life for up to amount qualified  for in term policy. * Whole Life:  permanently own policy, benefit of  cash value; level premium set for life at insurable  age when policy is instated. * War Chest War Chest items include things like funding education  expenses for children, funding missions, dream  vacations, hobbies/interests, recreational toys (boat,  cabin, snowmobiles, etc). Discretionary money will go to war chest items only  after   allocating money to the higher priority items.   Emergency funds, retirement funding, and risk  management are higher priorities than war chest  items. * Managing Personal Finances
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This note was uploaded on 11/21/2011 for the course BUS M 301 taught by Professor Jimbrau during the Summer '11 term at BYU.

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Risk Management - * * * * RiskManagement

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