3 Discussion Questions, 3 Student Reponses

ECO110: Taking Charge of your Economic Future

Week 9 Discussion

Part 1: Risk Management

Insurance companies willingly take on our risk for a fee. Give an example of a risk that you or someone else has chosen to insure.

How could you use your technology skill and Excel to organize and analyze data and help you decide if a specific insurance is a good value for the example you gave? Think about the cost and consequences of not having insurance versus the cost of the insurance over time.

Please respond to a classmate’s post as well

Part2: Student Response (Response to the student below)

Vatleria Thomas 

RE: Risk Management

Class

I have always looked at insurance companies as a rep off/get over on people, but this chapter has opened my eyes as if it is a two-way risk for a fee.  Learning more about investing in stocks, bonds and real estate, when taken risk you have to have some type of insurance to cover every asset you have, or you will in up losing it all.  I had a friend who dealt with all three stocks, bonds and real estate but when he pasted his children lost all most everything. One factor was the type of insurance, how much insurance and the difference between term and life. I am sure when he purposed the insurance, he was thinking it would cover all aspects of his life for his children. When it was time to pay out the find print was what hi the family because it value was supposed to cover all assets, but the value of the insurance was not even close. Looking on the bright side of things if he did not have insurance at all, his children would have lost everything.

 

As technology grows, I would say my technology skills grows also. As for using Excel, I really do not use Excel a lot in my life. I see were incorporating in into some of my day to day lifestyle/function would benefit from it. I always use comparison when I’m trying to find my best obsession but never thought to put it into excel and let it work it out for me. This is something I’ll have to work on.Bottom of Form