Determining Life Insurance Needs
(Activities for Chapter 13)
Providing for the financial needs of dependents is the primary goal of a life insurance program. Comparing policy types, coverage amounts, and other provisions will help you meet this financial purpose.
Short-Term Financial Planning Activities | Life Insurance Websites |
1. Determine life insurance needs for your current life situation.
|  PFP Sheet 19
(44.0K)
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2. Compare rates and coverages for different life insurance policies and companies.
| PFP Sheet 20
(43.0K)
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3. Evaluate the use of annuities in your financial plan.
| | Long-Term Financial Planning Activities |
1. Identify information sources to monitor changes in life insurance coverages and costs offered by life insurance companies.
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2. Develop a plan for reassessing life insurance needs as family and household situations change.
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Planning for Retirement
(Activities for Chapter 5 and 13)
Long-term financial security is a common goal of most people. Retirement planning should consider both personal decisions (location, housing, activities) and financial factors (investments, pensions, living expenses).
Short-Term Financial Planning Activities | Retirement Planning Websites |
1. Identify personal and financial retirement needs for various stages of your life.
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2. Compare the benefits and costs of a traditional IRA, a Roth IRA, and other pension plans.
| PFP Sheet 23
(49.0K)
| Long-Term Financial Planning Activities |
1. Research costs and benefits of various housing alternatives.
| PFP Sheet 22
(28.0K)
|
2. Estimate future retirement income needs and identify appropriate investments to meet those needs.
| PFP Sheet 24
(31.0K)
|
3. Develop a plan for expanding personal interests and increasing contributions to retirement accounts.
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