Original work NOT RECYCLED- Discussion question Due in 20 hrs Quality work with citations

Assignment 1: Discussion—Life and Disability Insurance

One of the most overlooked types of insurance is disability insurance. While many employers provide a disability benefit to their employees, the benefit is minimal and typically not enough in the event of a true permanent disability.

Another crucial aspect to consider is what happens when the primary income generator in a family passes away suddenly. Life insurance is an insurance policy that pays money to designated beneficiaries (usually family members) upon death. It is designed to replace income and cover costs that can no longer be covered by the policyholder who is now deceased.

• Based on your family situation, how would you estimate an adequate amount of disability coverage you should carry in the event of a permanent disability?
  • Discuss the factors you would consider to make your decision. However, do not provide specific amounts.
  • Explain how your estimate of disability coverage might change in the next ten years.
• Based on your family situation, how would you estimate an adequate amount of life insurance you should carry at this point in your life? Consider the factors associated with disability coverage that you have identified and apply the same process to determining levels of life insurance coverage.
  • Discuss the factors you would consider to make your decision. However, do not provide specific amounts.
  • Explain the factors you think you will need to consider ten years from now.

In addition, using the Internet, do the following:

• Identify at least one Web site each for disability and life insurance, which you think is a useful tool in calculating these insurance amounts. Explain the rationale for your choice.

As part of your initial discussion post, address the following:

• Term insurance
• Whole life insurance
• Intermediate policies (Examples include variable and variable universal life [VUL] policies)

Write your initial response in 200–300 words. Apply APA standards to citation of sources.

By Saturday, March 5, 2016, post your response to the appropriate Discussion Area. Through Wednesday, March 9, 2016, review at least two peers’ responses. Comment on the following:

• Different factors cited for estimating an adequate amount of disability coverage and life insurance. Remember that family situations can differ greatly and that your insurance needs may change over time.
• Other Web sites your peers’ identified in terms of how insurance calculators compared with the ones you identified in your initial post.