My exquisite wall by Hannah Battle https://padlet.com/hannahb523/s0aofy3bsnll Made with charisma en-us 2018-03-22 12:30:28 UTC 2018-03-26 12:48:48 UTC hello@padlet.com General Info hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244950595
  • What type of insurance do you need as a single person just starting out? You will want an emergency fund equal to three to six months worth of basic living expenses and to sign up for your companies 401(k) plan.
  • How do these needs change when you have a family? How do they change when you retire?    When you will need to get a form of Life Insurance, Disability insurance is also a must it will replace a portion of your income if you are unable to work due to a disabling illness or injured, a long-term care insurance is also a smart ideas for the future for payments of nursing homes, and you will need to start saving through the 401(k) and a 529 college savings program which is a good way to put aside money for kids’ college tuition. 

    • ]]>     2018-03-22 12:34:18 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244950595     General Info hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244950771
  • What is your human life worth? 
    • Human life value: $ 328,452.09
    ]]>     2018-03-22 12:34:42 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244950771     Life Insurance hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244950963
  • What life events do you need to consider when evaluating and re-evaluating your life insurance needs (you should find 8-10)?
    • Pay for funeral costs
    • Help pay the bills and meet ongoing living expenses
    • Pay off outstanding debt, including credit cards and the mortgage
    • Continue a family business
    • Finance future needs like your children’s education
    • Protect a spouse’s retirement plans
    • Life Style

    ]]>     2018-03-22 12:35:07 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244950963     Life Insurance hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244951313
  • List each event and provide an explanation why each has an effect on your life insurance choices.
    • -How much your funeral is going to cost based on what kind you wish to have
    -After you've passed there will be one less income for the house this will have pay the basic stuff.
    -You don't want to leave your family with to handle your debt
    -If you have a family business you need to think about the amount of possible risk involve in the case of someone suing your business.
    -You don't want t o not save up and then when the time comes have to borrow a bunch of money
    -If something were to happen to you you don't want that to cause your spouse to have to come out of retirement to pay for your debt
    -Want your family to keep living the life style they do now, don't want them to occur a major life style change.


    ]]>     2018-03-22 12:35:52 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244951313     Disability Insurance hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244951720
  • Who needs disability insurance?
    • - If you have a job you will need this as there is a 3/10 chance you will encounter a disability (injury/illness) in your career. 

    What are five (5) examples of life changes that will cause you to re-evaluate your disability insurance?  

    1. Accident at work- See if your fully covered
    2. Retirement- you don't need it any more
    3.Terminally Ill - you can no longer work cause you've fallen sick
    4. Pregnancy- not able to work to be able to recover and care for child
    5. Death- May need more if the death is of the main provider of the household

    ]]>     2018-03-22 12:36:49 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244951720     Long Care Insurance hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244952350
  • When should you get LTC insurance?
    •           -You should get LTC when you have developed a chronic illness and become injured to the point where you cant work for a long time and will need constant medical care.
    1. What types of care are covered?
    -Skilled Care
    -Intermediate Care
    -Custodial Care

    ]]>     2018-03-22 12:38:13 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244952350     Looking Into the Future hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244952711 Scenario 1: You are 23 years old. You just graduated college and landed your first adult job. You are single with no children.
    -emergency fund: 3 to 6 months of basic living expenses.
    -disability insurance: consider workers compensation however if you don't feel like your job will be long term get individual disability insurance 
    -401(k) retirement plan 


    ]]>     2018-03-22 12:39:00 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244952711     Looking Into The future hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244952848 Scenario 2: You are 40 years old. You are married with two children. You have a house, cars, and an establish career.
     -Have an emergency fund of 3-6 months worth of payments saved 
    -Have a bigger life insurance plan - to fit both of your child's futuristic needs 
    -Workers compensation or employer sponsored coverage

    ]]>     2018-03-22 12:39:17 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244952848     Looking into The Future hannahb523 https://padlet.com/hannahb523/s0aofy3bsnll/wish/244953083 Scenario 3: You are 65 years old. You are married with no children in the house. You just retired. 
    -401(k) or some sort of retirement plan
    -Life Insurance depends on what type of funeral you will want to have and your current life style your family has. The higher life style and the bigger funeral means you will need a bigger life insurance plan.
    -For Long Term Care it is more of a per cation, if you need to be in assisted living or in a retirement home this insurance will help to pay these bills.

    ]]>     2018-03-22 12:39:48 UTC https://padlet.com/hannahb523/s0aofy3bsnll/wish/244953083