choose how to spend the employer-provided premium dollars to purchase any combination of insurance or additional life insurance. a. In the mix of premiums the Porterfields can spend, how should Adam and Cassie rank Adam's insurance needs among the seven types of coverage offered? What factors should they consider? b. Should Adam consider purchasing more life insurance than the company-provided free benefit? What two methods could he use to assess his needs relative to his total life insurance coverage? c. Name two or three important factors to consider when purchasing disability insurance. Should Adam first consider short-term or long-term disability? d. Should the Porterfields consider changing their company-provided insurance benefits if they become parents? Defend your answer. a. The factors Adam and Cassie should consider in ranking Adam's insurance needs are: (Select all the choices that apply.) A. income replacement protection. B. Adam's age and how soon he may require long-term care. C. the cost of long-term care for Adam's parents. D. protection of Adam's earning power for today and the future. E. protection against the increasingly sophisticated and costly system of health care. F. the cost of getting braces for their children, if they have any in the future. Adam and Cassie should rank Adam's insurance needs as: (Select the best choice below.) A. the free life insurance, health insurance, and long-term disability. B. long-term disability, health insurance, and long-term care insurance. C. health insurance, long-term disability, and the free life insurance. D. health insurance, dental insurance, and the free life insurance. b. Should Adam consider purchasing more life insurance than the company-provided free benefit? (Select the best choice below.) The two methods Adam could use to assess his needs relative to his total life insurance coverage are: (Select the best choice below.) A. the needs approach and the risk pooling approach. B. the earnings multiple approach and the risk pooling approach. C. the earnings multiple approach and the needs approach. D. the needs approach and the debt elimination approach. d. Some important factors to consider when purchasing disability insurance are: (Select all the choices that apply.) A. Waiting or elimination period: The longer the waiting period, the lower the premium. A minimum of a 3-month waiting period is recommended due to the significant savings. B. Noncancelable clause: Keeps the policy in force, or renewable, with rate increases. C. Definition of disability: Pick a policy that defines disability as unable to perform \"any occupation\" not a policy based on performance of your \"own occupation\" or \"normal job\" as required by Social Security. D. Definition of disability: Pick a policy that defines disability as unable to perform your \"own occupation\" or \"normal job\" not a policy based on performance of \"any occupation\" as required by Social Security. E. Waiting or elimination period: The shorter the waiting period, the lower the premium. A minimum of a 3-month waiting period is recommended due to the significant savings. F. Noncancelable clause: Keeps the policy in force, or renewable, without rate increases. Should Adam first consider short-term or long-term disability? (Select the best choice below.) e. Should the Porterfields consider changing their company-provided insurance benefits if they become parents? Defend your answer. (Select the best choice below.) how to cost effectively maximize employer-provided benefits is warranted. Options to purchase additional coverage, where needed, should be considered. cost effectively maximize employer-provided benefits is warranted. Options to purchase additional coverage, where needed, should be considered. is warranted. Options to purchase additional coverage, where needed, should be considered. of how to cost effectively maximize employer-provided benefits is warranted. Options to purchase additional coverage, where needed, should be considered