Risk Management and Insurance Planning - Desklib

Risk Management and Insurance
Planning

Table of Contents
INTRODUCTION...........................................................................................................................3
ISSUES AND OPPORTUNITIES..................................................................................................3
RECOMMENDATIONS.................................................................................................................5
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The client Eric is now 35 years old and he is expecting his first baby at this age. If sees his
current insurance coverage, then it seems to be around 863332 USD. It covers all aspects such as
group medical insurance, home insurance and life insurance. The client’s life expectancy is
around 68 years. Since it is now around 35 and having adjustment in his life of 10 years due to
his bothersome life. The projected income and expenses of this client in the event if one of the
spouse dies is 257900. If discusses the health history of the family, then there are no such
concrete evidence suggesting anything bothering. He is still having his parents who seems to be
fit and are eligible to take care of his expected child. There is no severe ailment to any of them
and their parents which shows that the family is not supposed to be much aware for any health
jeopardy. The report will be discussing some prevailing issues along with opportunities before
the client so can guide him for taking better decisions to augment the wellbeing (Armin, et. al.
2019)
ISSUES AND OPPORTUNITIES
The client is having some issues. Since he is around 35 and having a lots of responsibilities to
perform. As it is known that he has owned a house with his neighbour and for this purpose he
raised both down payment and mortgage which are to be paid back in the next 25 years. if the
life expectancy is supposed to be 68 then it seems quite perilous for the man due to many
associated reasons (Huang, 2021) The life expectancy is as-
Life expectancy of Eric
Particular Value
Gander Male
Current age (C ) 35
Life style habits
Feels rigors responsibility both
financially and mentally.
Adjustments factors (F) 10
Life expectancy to age form security table (X) 43
Life expectancy (C+X-F)
Life Expectancy 68
Assumption