What advice would you give to Harvey? What factors should he consider in deciding whether to buy additional life insurance at this point in his life? If he does need additional life insurance, what type of policy or policies should he buy? Use Worksheet 8.1 to help answer these questions for Harvey.
What advice would you give to Harvey? What factors should he consider in deciding whether to buy additional life insurance at this point in his life? If he does need additional life insurance, what type of policy or policies should he buy? Use Worksheet 8.1 to help answer these questions for Harvey.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Question
i have attached the question in images.
Transcribed Image Text:псе is
appropriate type. Use Worksheet 8.1. Harvey Cook, 45, is a recently
LO2
divorced father of two children, ages 10 and 7. He currently earns
LO3
$95,000 a year as an operations manager for a utility company. The
LO4
divorce settlement requires him to pay $1,500 a month in child support
and $400 a month in alimony to his ex-wife. Harvey is now renting an apartment,
and the divorce settlement left him with about $100,000 in savings and retirement
benefits. His employer provides a $75,000 life insurance policy. Harvey's ex-wife is
currently the beneficiary listed on the policy.
What advice would you give to Harvey? What factors should he consider in deciding
whether to buy additional life insurance at this point in his life? If he does need
additional life insurance, what type of policy or policies should he buy? Use
Worksheet 8.1 to help answer these questions for Harvey.
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