- Calculate life insurance premiums
- Make a copy of this file, rename the file to be Life Insurance Calculation-(Your Initials), and move it into your Lesson 5 folder.
- Use the following information to complete the document:
- Scenario #1
- Gary (34) lives in Gainesville, FL with his wife Gwen (33) and their three kids, Gordon (9), Gail (7), and George (3). Gordon, Gail, and George are currently attending their local public school system, but Gary and Gwen have always planned for them to go to a private college after high school. Gary currently has a good job selling Carpet Cleaning supplies where he earns $134,000 annually. Gwen works part-time at their church as a secretary and brings in $12,000 annually. Gary and his family lives in a pretty nice 6,000 square foot home that they originally purchase for $550,000, but still have $240,000 to pay on their mortgage. They’ve been pretty wise with their money, but they did put their family trip to Bora Bora, which totaled to $7,000, on a credit card. Gary currently has a pretty nice asset collection including $275,000 in savings, a $300,000 Roth IRA retirement account, and a $200,000 term life insurance policy.
- Scenario #1
- When you have all of your Lesson 5 assignments completed, share your Lesson 5 folder with your teacher. Your folder should contain the following files:
- Term Life Insurance
- Permanent Life Insurance
- Hattie’s Story
- Life Chart
- My Course
- Life Insurance Calculation
Lesson 5 Quiz-IU
- Complete the Lesson 5 Quiz for the Insurance Unit.