FINANCE
2
Insurance Plan
As per the fact sheet which is provided by you, Nikka and Brando needs to update
their respective insurance so that proper planning can be done for future. Nikka you already
have coverage from State Capital Bank which is equal to $ 72000 for a year for life insurance
while you also receive a disability insurance of 70% of the basic salary which you receive
which equals
= (72000*70%)= $ 50,400 for a yearly basis.
The fact sheet also shows that Brando does not have any form of insurance coverage
considering his present scenario. I would recommend Brando to take up insurance for life as
well as disability insurance from the perspective of future.
Brando is 47 years of age and as per the fact sheet is a non-smoker and therefore as
per average monthly cost for life insurance, Brando needs to invest $ 81.4 per $ 1000 per
month and the same is based on coverage of $ 500,000. I would be suggesting Brando that
AIA insurance product both for term insurance and life insurance should be taken. The
advantages associated with the same are listed below:
 Covers complimentary family fee or final expenses which includes benefit if your
child passes away or is diagnosed with a terminal illness. This benefit is available for
a certified age group of kids.
 Complimentary Interim Accidental Death Cover is also provided by the company for
people who passes away as their policy papers were being assessed.
In addition to this, disability insurance needs to be taken for Brando as well. He should be
investing $ 47 per $ 1000 per month and the same based on the adjusted home pay for the

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I would ecommend Brando

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