Instructions: Below you will find 2 profiles of a potential life insurance purchasers.
1. You must first recommend a product, given the profile.
2. Suggest options to the policy that you think the client may wish to add or modify the policy in some way.
3. Note what information you would ask for to improve your recommendation.
Profile 1: Z is 25 years of age. Z is thinking of getting married. Z’s intended partner also works full time. Z has car payments and rent payments that total $1150 a month. Z has no savings. Z might want children but not for a few years. Z has health insurance coverage at work. Z comes from a big family so there will be plenty of people to help should their parents need some in old age.
Profile 2: Y is 42 years of age. Y is married and has children with the following ages: 5, 8, and 14. Y has parents who are retired, who live reasonably comfortably in another town but have health issues and may not be able to live independently long. Y has mortgage payments of $1500/month and other debt and costs that require payments of $1250 per month. Y’s spouse works part-time. The couple has $70,000 in a 401K plan. Both Y and spouse have college educations and expect that for their children. No one has a significant health problem at this time.