Question

Joe Smith is considering the purchase of a disability income policy and is trying to decide between two policies sold by two different companies. The cost of one policy is almost twice that of the other. What provisions in the two contracts would you advise Smith to compare? Explain.

Tim and Sally, successful graduates of the Business Management program at SWTC have recently opened their own business. They have been married for 10 years and have three children under the age of 8. What types of life and health insurance would you recommend for Tim and Sally? Provide a detailed explaination of your answer.​

Answer 1

Explanation:

Joe Smith should compare the following features of both policies;

• Is disability income policy same as the other?
• Medical facilities in both the policies.
• Which policy has more flexibility and secure also
• What additional benefits do each provide
• Which policy is more health friendly

Regarding Tim and Sally, they should consider a policy that provide following benefits

• Full medical coverage of entire family
• OPD charges covered
• IPD facility amount should be for every member
• Policy which is being accepted in majority of medical facilities