Create workable budget by managing cash outflows

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Reference no: EM132038276

Given that your client has three key complementary goals – control risk exposures, ensure the family is taken care of in the event that either spouse passes away prematurely and create a workable budget by managing cash outflows – which of the following represent effective strategies?

(1) Purchase all of the property and casualty insurance policies from the same insurer.

(2) Replace the $500,000 term life policy with a $500,000 whole life policy.

(3) Integrate individual and employer-provided disability policies to ensure that there isn’t unnecessary overlap of coverage.

(4) Purchase Medigap insurance to fill in Medicare gaps (e.g., 100% of additional hospital days up to 365, Part B co-insurance)

(5) Reduce the homeowner’s policy coverage to 70% of replacement value

1, 3 and 4

1, 2 and 3

1, 2, 3, 4 and 5

2, 4 and 5

1 and 2

Reference no: EM132038276

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