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Gary Grandview—A Continuing Case
Part 4: Protecting Your Wealth
a. Read Gary Grandview Part 4. Analyze the changing facts provided in Parts 1-4. Continue to assume the role of Gary's advisor and provide your answers in a business like style and tone.
b. Please make sure that WRAP TEXT and MERGE and CENTER are ON. (*Excel Toolbar, Home Tab, Alignment section)
c. Ensure your answers can be seen in the yellow highlighted text box. Need more space? Increase height of the text box. a) Drag the bottom line of the number row (far left column) down, or b) Insert a row while inside the yellow text box.
d. Ensure printed copies are readable. Print in Portrait. Always print preview.
e. Save and upload the document in the Assignments Folder. Then print a copy for class.
Case Questions Value of Points
Possible Lost
1 Why should auto insurance be important to Gary?
4
2 Gary is trying to decide on which type of auto insurance coverage he should have.
a) Explain the four types of auto insurances that are available.
4
b) Which of these policies are best for Gary's situation and why?
4
c) Gary would like to know the difference between on-line and brand name insurance companies.
4
d) What major factors affecting auto insurance rates should Gary consider if he switches insurance companies? Please specify 3 factors.
4
e) Should Gary need to know if he should consider the credit rating of the insurance company? Yes/No, and please justify.
2
2 Gary currently rents an apartment. Should Gary budget for renter's insurance?
What is the difference between renter's insurance and homeowner's insurance?
a)
4
b) What determines whether renter’s insurance is appropriate for Gary?
2
3 Gary's company benefit package is coming up for renewal. Gary currently has a PPO plan at his job and needs to decide if he should keep the PPO plan or change a HMO plan.
a) What are two benefits of a PPO plan?
2
b) What are two negative factors of a PPO plan?
2
c) What are two benefits of a HMO plan?
2
d) What are two negative factors of a HMO plan?
2
e. Consider Gary's cash flow situation: is a PPO plan or an HMO plan better? Yes/No, and please justify.
2
4 Gary is looking into life insurance.
a) Does Gary need life insurance? Yes/No and explain why.
2
b) If he needs life insurance, is whole life his best choice? Yes/No, and please justify.
2
c) Should Gary plan to use the whole life policy’s loan feature as a means for maintaining liquidity? Yes/No, and please justify.
2
d) Should Gary consider a Universal Life Insurance policy? Yes/No, and please justify.
2
e) If Gary decided on a beneficiary, how much insurance should he purchase?
2
f) If Gary decides to get married, how much life insurance should he buy?
2
50 0
Final Score 50

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