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A scott does not feel good about only having 60 of

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A. Scott does not feel good about only having 60% of his income protected in the event of a disability and asks you for advice on the subject. 1. What options does he have? 2. What sort of definition of disability would you recommend he purchase and why? 3. What elimination period would be best for Scott and Why? b. Scott ask you whether he should purchase the additional life insurance protection offered through the hospital or whether he should do something else. 1. What are the benefits of purchasing the additional group insurance instead of purchasing and individual policy? 2. Suppose you agree that he needs approximately 2500000 of death benefit in order to cover his debt, provide education savings and replace his lost income. What type of policy would you recommend and why? 3. What sort of considerations would you explain to him to help him find the best carrier? c. Lisa asks you about life insurance for her. 1. Do you recommend that she purchase any life insurance on her? If so, Why 2. what type of coverage would you recommend for her and Why? D. they are eager to begin saving money and have agreed that they can save 10% of his gross income pretty easily starting immediately.
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1. Can Scott and Lisa both open a traditional IRA? 2. Can they deduct their contributions from their taxes? If so, will that change next year if Scott decides to contribute to the 403(b) plan? 3. Can either he or Lisa open a Roth IRA? WHY or Why not. 4. assuming they contribute the maximum amount allowable into traditional IRAs. What would you recommend they do with any additional savings up to the 10% to which they have committed?
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Christopher Reinemann
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