Lesson 17
What type of insurance have you been assigned to research? Life Insurance
Which of the two plans below would be the best choice for your circumstances and why? MetLife because AARP is for older people.
Option A:
Name of company: MetLife
Deductible: $50
Co-pay: Procedure Charge Schedule
Premium: Flexible
What are the benefits and disadvantages? Deferred annuities
Option B:
Name of company: AARP
Deductible: $162
Co-pay: $100
Premium: $147/month
What are the benefits and disadvantages? Discounted car rentals
Part One
What does a will actually do? Do you have to be a certain age to create one? Can you make one when you are in ill health? Write a list of the important elements you discover.
The important aspects of a will are:
Part Two
Imagine you are going to create a will that outlines the distribution of the given assets:
1. Who should receive your assets? Use the space below to designate who would get each of the assets listed above and why?
Laptop: Nichole
Smartphone: Mom
Car: Reo
CD Collection: Vincent
Favorite Book: Phillip
Movie Collection: Michael
Jewelry or Watches: Mom
Clothing: Some charity
Video Game Console: Joe
Digital Camera: Joe
2. Who will be the executor of your estate? That is, who will be the person that is responsible for making sure your wishes are carried out and your assets distributed, as you want? Why did you choose that person? A close friend would distribute my assets.
3. Why do you think it is important to create a will? You never know when you'll contract an incurable disease or terminal illness and drop dead, or lose a finger or two.
Which of the two plans below would be the best choice for your circumstances and why? MetLife because AARP is for older people.
Option A:
Name of company: MetLife
Deductible: $50
Co-pay: Procedure Charge Schedule
Premium: Flexible
What are the benefits and disadvantages? Deferred annuities
Option B:
Name of company: AARP
Deductible: $162
Co-pay: $100
Premium: $147/month
What are the benefits and disadvantages? Discounted car rentals
Part One
What does a will actually do? Do you have to be a certain age to create one? Can you make one when you are in ill health? Write a list of the important elements you discover.
The important aspects of a will are:
- A will can be prepared on plain paper.
- Can be handwritten and in any language.
- Should be signed by at least two independent witnesses.
- Registration of a will is not mandatory.
- A will can be changed at any time, any number of times.
- People of all faiths and religions can make a will.
- A person, while making a will, should be sound of mind.
- A will should clearly describe which property is going to whom.
Part Two
Imagine you are going to create a will that outlines the distribution of the given assets:
1. Who should receive your assets? Use the space below to designate who would get each of the assets listed above and why?
Laptop: Nichole
Smartphone: Mom
Car: Reo
CD Collection: Vincent
Favorite Book: Phillip
Movie Collection: Michael
Jewelry or Watches: Mom
Clothing: Some charity
Video Game Console: Joe
Digital Camera: Joe
2. Who will be the executor of your estate? That is, who will be the person that is responsible for making sure your wishes are carried out and your assets distributed, as you want? Why did you choose that person? A close friend would distribute my assets.
3. Why do you think it is important to create a will? You never know when you'll contract an incurable disease or terminal illness and drop dead, or lose a finger or two.