Planit:Critical Illness Calculator Exercise

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Contents 1 Solve for the following problem: 2 Solve for the following problem: 3 Solve for the following problem: 4 Solve for the following problem: 5 Solve for the following problem: 6 Solve for the following problem: 7 Solve for the following problem: 8 Solve for the following problem: 9 Solve for the following problem: 10 Solve for the following problem: 11 Solve for the following problem: 12 Solve for the following problem: 13 Solve for the following problem: 14 Solve for the following problem: 15 Solve for the following problem: 16 Solve for the following problem: 17 Solve for the following problem: 18 Solve for the following problem: 19 Solve for the following problem: 20 Solve for the following problem: 21 Solve for the following problem: 22 Solve for the following problem: 23 Solve for the following problem: 24 Solve for the following problem: 25 Solve for the following problem: 26 Solve for the following problem: 27 Solve for the following problem: 28 Solve for the following problem: 29 Solve for the following problem: 30 Solve for the following problem: 31 Solve for the following problem: 32 Solve for the following problem: 33 Solve for the following problem: 34 Solve for the following problem: Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

United States of America

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

Argentina

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

Brazil

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

United Kingdom

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns £80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately £20,000, and £10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of £40,000.

Russia

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns R80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately R20,000, and R10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of R40,000.

China

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns ¥80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately ¥20,000, and ¥10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of ¥40,000.

Malaysia

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns RM80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately RM20,000, and RM10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of RM40,000.

Singapore

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

Hong Kong

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

India

Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns Rs80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately Rs20,000, and Rs10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of Rs40,000.

Caribbean

Jamaica   Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $800000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $200000, and $100000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $400000. Trinidad and Tobago   Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000. Barbados   Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000. Bermuda   Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000. Bahamas   Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000. Puerto Rico   Solve for the following problem: George is 45-years old and wants to purchase a Critical Illness policy to ensure that his family would be able to maintain their lifestyle in the event that he became critically ill. George currently earns $80,000 and would need to replace his income for two years. His inflation assumption is 3%, and his after-tax rate of return would be assumed at 6%. George would also want to be able to pay any extra medical costs for approximately $20,000, and $10,000 for a nanny to look after his children and chores around the house. How much critical illness insurance does George require? Solve for the following problem: One of your clients, for which you have already done life planning, would both like to plan for 1 year of critical illness, with assumed medical expenses of $40,000.

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