Personal Finance Essay

Personal Finance

Task 6: Insurance and Consumer Protection

(26. 0 points)

1 . Think of a real or perhaps made up but realistic sort of a pure risk that you or someone you know may face, and then solution the questions below. В

a. Explain the specific risk. (1-3 content. 0. five points) В loosing a job

b. What sort of unfavorable outcomes are possible for this kind of risk? (1-3 sentences. 1 . 0 points) you wont have any cash because you wont get money

c. Would this risk be prone to create unpredicted expenses? Why or obtain? (1-3 content. 1 . zero points) I actually don't think therefore. Theres simply no extra bills you would have to pay. В m. Describe at least a method you could safeguard yourself against this risk. (1-3 sentences. 1 . 0 points) В by obtaining insurance

installment payments on your Think of a genuine or made up but practical example of a speculative risk that you or perhaps someone you know might face, and after that answer the questions listed below. В

a. Describe the precise risk. (1-3 sentences. 0. 5 points) В investing in something to make money

b. What kind of negative outcomes are possible for this type of risk? (1-3 sentences. 0. five points) losing all of your money

c. What sorts of great outcomes will be possible for this kind of risk? (1-3 sentences. 0. 5 points) you can gain money. В

m. Would this kind of risk end up being likely to produce unexpected bills? Why or perhaps why not? (1-3 sentences. 1 ) 0 points) no, the single thing you will be putting money on is the investment. at the. Describe in least a method you could protect yourself against this risk. (1-3 sentences. 1 . 0 points) В by diversifying your assets among many kinds

3. Imagine that you really are a parent with young children. You would like to get insurance coverage to protect your young ones financially till they are old enough to produce their own incomes. Will term life insurance or perhaps permanent insurance coverage be a better choice in this circumstance? Why? (2-4 sentences. 1 ) 0 points) В Term life insurance coverage so whenever they turn 18 they can be automatically insurance.

5. Describe two styles of insurance that you have or are likely to have got at some point inside your life. What risks happen to be these insurance coverage protecting you against? Why do you consider these types of insurance are important? (4-8 sentences. a few. 0 points) В Health insurance, it shields you against the costs created by simply sickness or perhaps injury by simply helping you to pay for your medical bills and expenses. I do believe this is important because if you were to get sick , nor have the money to fund your medical bill the insurance may help a lot by simply paying ideally most of the costs. Also, property insurance, It will help cover house that you own or rent. I think this is important since if a huracan happens therefore you need a fresh roof your property insurance may help pay for any damage done to your home

a few. List four valuable items that might be stored in an flat or residence. Next to each item, write down thier estimated amount that each item might be well worth. (Complete content are not required. 1 . 0 points) Tv- $10574. 00

Oven- $1850. 00

House phone- $69. 99

Computer- $1299. 99

6. In your Section_6 file, navigate to and available the Example_Insurance_Application, and then complete the steps listed below to save a duplicate of the record with your initials in your Section_6 folder. В

a. Click on the File menu, and then Just click Save a duplicate.

b. If a Save a Copy dialog box appears, just click Save a duplicate.

c. Guarantee the Save in drop-down list is set on your Section_6 file. If not, click the drop-down list, then simply click Local Disk (C: ), then double-click the course folder, and then double-click the Section_6 folder. В d. In the Name: field, type Example_Insurance_Application followed by the initials. В

e. Click Save.

7. Follow the guidance below to fill out the Example_Insurance_Application pertaining to Jessie Robinson. This is a credit card applicatoin for renter's insurance. (4. 0 factors for concluding the form effectively according to the instructions below) В

a. Complete the Consumer Information portion of the form making use of the name...