Finance Personal Planning
p98929892
CaseStudy-Insurance1.pptxCase Study - Insurance
Tom and Nancy Smith are married, with 2 children
Nancy is 38, Tom 42
Their children, Emily and Brian, are 16 and 18 respectively
Brian will be going to College this fall
Nancy is a CPA at a local accounting firm with an annual salary of $200K
Hank teaches at the local high school where he coaches football and makes around $100K annually
Nancy volunteers on the Board of Directors of a local Nonprofit
Both Hank and Nancy are in good health and have an active lifestyle
Both the Smiths and their children love Motorized Watersports
Case Study - Insurance
Tom and Nancy Smith are married, with 2 children
Assets
Tom and Nancy own a 3-bedroom home with a market value of $500K
They have two SUVs and a Sedan
Both Emily and Brian drive
The Smiths own an 18 ft Boat, which they store on their property
They also own two Jet Skis
Case Study - Insurance
Long Term Goals for the Smiths Include:
Income Replacement in case of the death of either Tom or Nancy
College for their children
Retirement Income is covered by Tom and Nancy’s Employment
So you do not need to address this in this Case Study
Case Study - Insurance
Answer the following questions:
1-What are the Major Risks Tom and Nancy face?
2-What different insurance products do they need?
3-How much insurance should they carry?
4-If Life Insurance is recommended, what policy value?
