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Documents Q Search in Document A SUAE = Home Insert Draw Design Layout References Mailings Review View 2+ Share a Times New R... 12 - A A A A2 DE.EE EE + Aa BbCcDdEe Noms Abbcode AaBOCEDES AaBbcode AaBbCcDc AaBlaCcDdEt AaBb AaBbccodes No Spacing Heading 1 Heading 2 Title Subtitle Paste BI Uabe X2 X U A. A Subtle Emph. Emphasis Styles Pane Lindsay and Josh Martin have been married for 5 years and have a 4-year-old son named Michael. The Martin's are starting to think more about their future with the aim of implementing their short-term and long-term lifestyle goals and financial plans. Lindsay and josh are both aged 35. The Martin's are looking to purchase a property with an approximate purchase price of $1. 500,000.00 in the Ilarnilton area of Ontario. They are very excited as both Lindsay and Josku bave never owned a bome before. Steve Austin works as a manager for a rubotics zaufacturer and earns $100.000 gruss unnual income (975,384 after tax). Lindsay works for a local manufacturing business as u chief accountant cuming $125,000 gross annual income ($89,322 after lux). Two years ago, Lindsuy received un inheritance from her late father in the amount of $200 000. With this money they each opened a TSFA (Tax Free Savings Account) and invested S15 000 cach. They also opened an RSP for the first time and contributed $10,000 each. The residual halance of the inheritance, $150,000 was deposited into a savings account at the bank because they plan to use the funds as a down payment. The couple have disability insurance and halth care insurance through their employers but they don't have a group life insurance plan. They know they both need to purchase life insurance, and have decided on Term Insurance, but they do not know how much or for how long to buy. They also need to understand the expected cost of the insurance policies. Assignment: Create a Financial Plan strictly focused on the identified insurance needs for the Martin fumily. For this assignment, imagine you are a Financial Planner, specializing in Insurance. You met with the Martin's last week, and you are now tasked with preparing a tinancial plan focused on insurance for them. You will make specific recommendations on how they can protect and insure their assets and future income levels to maintain their lifestyle. You are confident if you provide a comprehensive plan that aligns to their goals, you will earn their business for many years to come. You plan to review the report with them at your next meeting 1. Life Insurance: Make a recommendation on how much Term Life Insurance Lindsay and Josh should purchase. Justify the amount of insurance you are recommending, State ALL of your assumptions, and then provide a quote for Josh and a quote for Lindsay. Search the web and site your references 2. Automobile Insurance: The Martin's just purchased a new 2022 Toyota RAV, but as of yet have not found vehicle insurance. State ALL of your ussliptions and then search the web and provide the Murtin's with a quote. Knowing that there ure many variubles when purchasing automobile insurance alter 1 feature and provide the Martin's with a second quote. (You may consider altering the deductible, the replacement value or coverage amount, the choice is yours) Make a recommendation as to which quote thc Martin's should choose. Page 1 of 1 501 words DE English (Canada) Focus 3 3 123% Documents Q Search in Document A SUAE = Home Insert Draw Design Layout References Mailings Review View 2+ Share a Times New R... 12 - A A A A2 DE.EE EE + Aa BbCcDdEe Noms Abbcode AaBOCEDES AaBbcode AaBbCcDc AaBlaCcDdEt AaBb AaBbccodes No Spacing Heading 1 Heading 2 Title Subtitle Paste BI Uabe X2 X U A. A Subtle Emph. Emphasis Styles Pane Lindsay and Josh Martin have been married for 5 years and have a 4-year-old son named Michael. The Martin's are starting to think more about their future with the aim of implementing their short-term and long-term lifestyle goals and financial plans. Lindsay and josh are both aged 35. The Martin's are looking to purchase a property with an approximate purchase price of $1. 500,000.00 in the Ilarnilton area of Ontario. They are very excited as both Lindsay and Josku bave never owned a bome before. Steve Austin works as a manager for a rubotics zaufacturer and earns $100.000 gruss unnual income (975,384 after tax). Lindsay works for a local manufacturing business as u chief accountant cuming $125,000 gross annual income ($89,322 after lux). Two years ago, Lindsuy received un inheritance from her late father in the amount of $200 000. With this money they each opened a TSFA (Tax Free Savings Account) and invested S15 000 cach. They also opened an RSP for the first time and contributed $10,000 each. The residual halance of the inheritance, $150,000 was deposited into a savings account at the bank because they plan to use the funds as a down payment. The couple have disability insurance and halth care insurance through their employers but they don't have a group life insurance plan. They know they both need to purchase life insurance, and have decided on Term Insurance, but they do not know how much or for how long to buy. They also need to understand the expected cost of the insurance policies. Assignment: Create a Financial Plan strictly focused on the identified insurance needs for the Martin fumily. For this assignment, imagine you are a Financial Planner, specializing in Insurance. You met with the Martin's last week, and you are now tasked with preparing a tinancial plan focused on insurance for them. You will make specific recommendations on how they can protect and insure their assets and future income levels to maintain their lifestyle. You are confident if you provide a comprehensive plan that aligns to their goals, you will earn their business for many years to come. You plan to review the report with them at your next meeting 1. Life Insurance: Make a recommendation on how much Term Life Insurance Lindsay and Josh should purchase. Justify the amount of insurance you are recommending, State ALL of your assumptions, and then provide a quote for Josh and a quote for Lindsay. Search the web and site your references 2. Automobile Insurance: The Martin's just purchased a new 2022 Toyota RAV, but as of yet have not found vehicle insurance. State ALL of your ussliptions and then search the web and provide the Murtin's with a quote. Knowing that there ure many variubles when purchasing automobile insurance alter 1 feature and provide the Martin's with a second quote. (You may consider altering the deductible, the replacement value or coverage amount, the choice is yours) Make a recommendation as to which quote thc Martin's should choose. Page 1 of 1 501 words DE English (Canada) Focus 3 3 123%

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