PERSONAL FINANCE WEEK 3.docx

2 the tradeoffs of obtaining a health insurance over

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2. The tradeoffs of obtaining a health insurance over disability income insurance are when the insurance plan needs to take effect. Health insurances while cover their potion of the medical related expenses but will not cover the personal bills that occur from rent and other sources the moment you cannot work. Disability insurances will cover the expenses related to the disability and provide supplemental percentage based income for wages loss due to the illness or injury. Life Insurance for Young Married People Pg. 225 1. Yes they will need additional life insurances. Jeff seems to be the only worker with a $50,000 life policy plan. Ann doesn’t seem to have any income and is completely a dependent of Jeff. If Jeff was to become ill or
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Personal finance week 3 4 worse die, his $3200 a month income turns into a $50,000 payout and $1550 a month until the kids are 18. This is not enough money for a family of three to live on. 2. Term Life Insurance seems to be a better choice for Jeff to consider. It would allow him to cover more for less for a certain amount or until the kids are 18. Reference Bethel University. (2017). Personal Finance. Boston, MA: McGraw Hil . Sisolak, P. (2017, December 22). How to pick the right health insurance policy when pregnant. Retrieved May 10, 2018, from - pick-the-right-health-insurance-policy-when-pregnant/
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