logo

AMBA 660 - Case Study | Insurance | Monarch Institute

   

Added on  2020-03-01

5 Pages1096 Words36 Views
Part 1The Laura and John are in the long-term relationship. Then current age of Laura is aged33 and she is engaged as chemical engineer in a full time basis. She currently earns a gross salaryof $85000. One the other hand John is aged 36 and is engaged as a freelance journalist. It isexpected that he would earn a gross income of $53000 from freelance journalism. John being afreelancer it has been seen that his salary has varied widely during the year. Laura is currentlypregnant so she is planning to take a 2 year off before reentering the job. On discussing, the investment related with both of them it could be said that they have abalanced risk profile. The John has portfolio of shares that he has inherited from hisgrandmother. They currently live in rented house. On analyzing their liability, it has been seenthat Laura has a car loan. John and Laura combined have credit card debt of $13000. The Laura has superannuation balance that is invested in the balanced funds. She has lifeinsurance and TDP insurance cover that is held within the superannuation. Laura has many otherinsurance outside the super fund that includes TDP insurance. John has a superannuation fundthat is invested and has life insurance outside superannuation.

Part 2RecommendationsIntroductionIn this document, an attempt is made to provide advice to Laura and John based on theircurrent situation. The advice is made after thoroughly analyzing the current situation of bothLaura and John. That includes understanding their level of income, available assets and currentinsurance cover. The main aim of this statement of advice is to ascertain the current insurancerequirement of the clients and providing recommendations. In order to provide therecommendation different types of insurance will be discussed and they will be evaluated withthe current situation of the client in order to understand whether they would require theinsurance. In addition to this, different insurance products will also be analyzed so that best canbe selected for the client. Life InsuranceThere are different types of life insurance depending upon the cover. The cover isselected depending upon the circumstances and need. The different types of life insurance coversare:Life cover;Total and permanent disability cover (TPD);Trauma cover;Income protection cover;

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Insurance Recommendations for Laura and John - Desklib
|3
|713
|195

Life Insurance Cover Calculation for Laura and John
|3
|798
|45

7254AFE Financial Planning Fundamentals
|17
|3592
|242

Nathan and Mary Davidson Case Study 2022
|29
|7484
|7

Personal Insurance Advice for Risk Management Strategies
|6
|2209
|48

File Note – Statement of Advice
|10
|3227
|165