Homework: Risk Management and Insurance Group Project
The health and mortality implications of the recent coronavirus pandemic has propelled many of your coworkers to think critically about having proper health insurance, retirement and estate plans. As a student completing the Risk Management and Insurance course, your co-workers have requested a presentation on "Risk Management Application for Life, Health and Income Exposures".
Task:
In preparing for your presentation you identified the following areas that would be vital to aid their understanding.
1. Distinguish among the various forms of health insurance policies (basic health insurance, major medical insurance and miscellaneous insurance coverages).
2. Explain the mandatory and allowable provisions in individual health insurance with respect to grace periods, reinstatement, claim procedures, occupational issues, the misstatement of age when applying for coverage, and the existence of more than one policy covering the same loss.
3. Differentiate between Term insurance and Whole Life insurance policy. Outline the contract provisions as it relates to the incontestability clause, suicide clause, and non-forfeiture option.
4. Describe the three common structures of pension plans, eligibility, and qualifications for retirement.
5. Describe the use of wills, life insurance, trusts and gifts as basic tools in estate planning.
Format your homework according to the give formatting requirements:
1. The answer must be double spaced, typed, using Times New Roman font (size 12), with one-inch margins on all sides.
2. The response also includes a cover page containing the title of the homework, the course title, the student's name, and the date. The cover page is not included in the required page length.
3. Also include a reference page. The references and Citations should follow APA format. The reference page is not included in the required page length.