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Life Insurance Group Project Essay

1033 words - 5 pages

A Research Paper
Objective:
This assignment gives you an opportunity to expand your knowledge by exploring an insurance topic not covered in class. You'll also have an opportunity to work with fellow class members and "pick each other's brains" as you research your topic.

Here's what you need to do:
1. Form a group of 2 to 3 members.
2. Select a life/health insurance topic of your interest. If you are looking for suggested topics, here are a few research areas I would like to suggest:
* Aging and society: economic, political and social issues
* Securitization of longevity risk
* Demutualization of life insurers
* U.S. healthcare reforms
* Medical ...view middle of the document...

g, Black and Skipper, 2000). Cite all internet sources. Use quotation marks and/or indentations with quoted material.
* List of References: Provide a list of references alphabetically, on the last page of your paper.

Grading criteria (20 points)
This group project counts for 20% of your final grade. Your written paper will count for 60% of your project grade; your oral presentation in class will make up the other 40% of your grade. Peer evaluation will also affect your grade.

Group Project Option 2
Personal Life Insurance & Retirement Planning
Objective:
The purpose of this assignment is to provide a hands-on experience to apply what you have learned throughout the semester to a "real life" family financial planning.
Here's what you need to do:
1. Form a group of 2 to 3 members.
2. Design a real or hypothetical financial case (must be a family of at least two persons) and develop plans for the family’s life insurance and retirement needs.
3. Turn in the names of group members (the selection form on page 5) by March 25th.
4. Each group will present their paper in the last week of class.
5. Prepare a written team report of 3 to 5 pages (double-spaced) about the case, the team's analysis and recommendations, and attach appropriate spreadsheets. Submit the report along with the spreadsheets to ReggieNet by May 10th.
6. Each group member should submit a peer evaluation form to ReggieNet by May 10th.
7. Late submission will result in one point deduction in grade each day.

Requirements
Your financial case analysis report should include the following parts:
1. (4 points) Describe the financial situation of the family, including:
* family members, their current age, employment history
* after-tax family income
* nonliquid assets
* liquid assets available on death (e.g. individual savings, investment program, life insurance, employment death benefit, etc.)
* cash needs on the death of the income earner(s) (e.g. pay-off loans, education fund, emergency fund, final expenses, etc.)
* annual income needs on the death of the income earner(s)
* estimated Social Security benefits (can be estimated through Social Security Benefit Calculators available from internet http://www.ssa.gov/planners/benefitcalculators.htm )
* retirement income objective in current (today's) after-tax dollars
* estimated employer sponsored retirement benefit (assume a type of plan, benefit or contribution formulas)
* anticipated retirement age
* assumed annual income raise rate
* assumed rate of return on savings/investments. Justify the rates assumed and cite the data source or web links.
* assumed expected inflation rate. Justify the rates assumed and cite the data source or web links.
Feel free to add additional assumptions to the case as long as they are realistic for the situation and describe in your report. List all the...

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