Assignment: Personal Risks and Insurance
Length: 800 to 1,000 words.
Part I
1) Explain the various definitions of disability that are found in disability-income insurance.
2) Explain the following disability insurance income provisions:
a. Residual disability
b. Benefit period
c. Elimination period
Part II
1) A common method of determining the amount of life insurance life insurance to purchase is called the needs approach. Explain the following needs for a head of the household:
a. Income needs
b. Special needs
c. Cash needs
2) Explain the capital retention approach for determining the amount of 410 life insurance owned.
3) Briefly explain the characteristics of the following types of managed care plans:
a. Health maintenance organization (HMO) plans
b. Preferred provider organization (PPO) plans
c. Point-of-service (POS) plans
Format your assignment according to the following formatting requirements:
o The answer should be typed, using Times New Roman font (size 12), double spaced, with one-inch margins on all sides.
o The response also includes a cover page containing the title of the assignment, the student's name, the course title, and the date. The cover page is not included in the required page length.
o Also include a reference page. The Citations and references must follow APA format. The reference page is not included in the required page length.