BFIN 323 Life Insurance Needs and Calculations Question

Question Description

LIFE INSURANCE NEEDS ASSIGNMENT

1. Find TWO life insurance needs calculators on the Internet.

2. Based on the Criteria requested by the calculators, create a scenario for someone who is shopping for life insurance.

Scenario Questions

Current age? 25

In 10 -15 years from now.

What do you expect your income to be? $70,000

Your marital status? Married

Number and ages of children, if any? 0

3. Input your criteria into both calculators. Note that the criteria required by each calculator will probably not be identical.

4. If possible, print the criteria inputted into the calculator and the results provided, including any charts. If the web site does not allow you to print the results, provide as much information as possible on a Word document.

5. Provide a one-page (12 pt font, double-space, 1″ margins) analysis of this project. Were the amounts suggested by each calculator appreciably different? If so, what do you think accounted for the difference?

What factors seem to impact the amount of life insurance suggested significantly? (you might want to adjust the variables entered to see which ones resulted in a more significant change to the amount of life insurance needed).

Anything else you learned, or that surprised you about life insurance needs can be included here as well.

6. Put all of this assignment together in one file to upload

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