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Julia pays $500 for an insurance policy with an
expected value of $120. Explain why this is a rational choice for Julia
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- Maya Ward had a homeowner's insurance policy with $140,000 of coverage on the dwelling. Would a 90% co-insurance clause be better than an 80% clause in such a policy? Yes or No. Support your answer. ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________Marie wants to provide retirement income for her dependent parents for 35 years should she die. Marie earns $67,500 and feels that her parents could live on 65% of that amount. If the insurance funds could be invested at 5%, how much life insurance does she purchase using the desired income method? Group of answer choices $1,273,499 $1,450,087 $932,743 $877,500Assume that you have calculated: (a) premiums for life insurance policies and (b) payments to annuitants based upon an assumption that everybody dies before attaining age 101. Now you discover that a significant number of your policy owners are likely to live beyond age 101 and some will live to age 121. How will that affect your business?
- Krista and Landor are new parents. They have a two-month-old baby girl and they are considering expanding their family in the future. They have purchased life insurance with a child coverage rider in the amount of $5,000. Unfortunately, their baby girl becomes gravely ill and passes away. How will the insurer deal with their death claim relating to the child coverage rider? Select one: a. b. The insurer will pay the claim for the full amount. The insurer will pay a claim for only half of the full amount to keep the child coverage rider in force for the next child. c. The insurer will deny the claim as Krista and Landon did not purchase accidental death insurance for theirBelinda spent the last 60 days of 2019 in a nursing home. The cost of the services provided to her was $18,000 ($300 per day). Medicare paid $8,500 toward the cost of her stay. Belinda also received $5,500 of benefits under a long-term care insurance policy she purchased. Assume that the Federal daily excludible amount is $370. What is the effect on Belinda’s gross income?During 2019, Susan incurred and paid the following expenses for Beth (her daughter), Ed (her father), and herself:Surgery for Beth $4,500Red River Academy charges for Beth: Tuition 5,100Room, board, and other expenses 4,800Psychiatric treatment 5,100Doctor bills for Ed 2,200Prescription drugs for Susan, Beth, and Ed 780Insulin for Ed 540Nonprescription drugs for Susan, Beth, and Ed 570Charges at Heartland Nursing Home for Ed: Medical care 5,000Lodging 2,700Meals 2,650Beth qualifies as Susan’s dependent, and Ed would also qualify except that he receives $7,400 of taxable retirement benefits from his former employer. Beth’s psychiatrist recommended Red River Academy because of its small classes and special-ized psychiatric treatment program that is needed to treat Beth’s illness. Ed, who is a paraplegic and diabetic, entered Heartland in October. Heartland offers the type of care that he requires.Upon the recommendation of a physician, Susan has an air filtration system installed in her…
- Alex covered his automobile for a total of RO 60,000 with Al Ahlia Insurance and a total of RO 90,000 with Takaful Insurance. An accident occurred, resulting in a loss of RO 48,000. What is the maximum amount Mr. Ali may claim from each insurance company? A) Mr. Ali is eligible for a total of RO 27,000 in Takaful insurance and RO 21,000 in Vision insurance. B) Mr. Ali is eligible for a Takaful insurance claim of RO 28,800 and a Vision insurance claim of RO 19,200. C) Mr. Ali is eligible for a total of RO 30,000 in Takaful insurance and RO 18,000 in Vision insurance. D) Mr. Ali is eligible for RO 24,000 in Takaful and RO 24,000 in Eye coverage.Barbara has homeowner’s insurance with $100001 face amount.She recently incurred fire damage of $50000 during the policy period. If the insurer values the home to be $150000, what would her insurance benefit before the deductible? Choices: $33334 $100000 $0 $50001Julie paid $3,300 to the day care center and her AGI is $401,200. What amount of child and dependent care credit can Julie claim in 2021?