Question

HELP WITH PROJECT PLEASE READ AND HELP CLEARLY

based working together to get started on what you need to immediately take first career job, unless you are going to graduate school. Each Component One" is class toget care of once you graduate and start your of the six components will be done for real, except for the actual talking to insurance agents and paying for effective policies. "Component Two" is individual based with each of you coming up with a hypothetical different company or business that different from each other and involves employees, property [both physical and intellectual and intangible], customer interaction, the public in general, and the environment as a whole. Use the template to develop a "Risk Assessment Matrix" for Two". "Component For both "Component One" and Component Two", I will assist; however, most hands on assisting will be with "Component One". Each class period from her on will be for the proper and timely completion of these two components. This is half self-paced and half instructor-led. Component One: [Individual 1. Analysis of insurance contracts 2. Life insurance 3. Life insurance contractual provisions 4. Buying life insurance 5. Annuities an IRAs 6. Individual health insurance coverage Component Two: [Business 1. Commercial property insurance 2. Commercial liability insurance 3. Crime insurance and surety bonds 4. Employee benefits: retirement plans 5. Employee benefits: group life and health

Answer 1

Ok, now first you must know that the project is divided in two parts, the component one and the component two.

what you need to know about component one is -

1. it is class based working. i.e. you have to do it with help of other classmates.

2. this exercise will be done for real (except for given two conditions)

and for component two make sure -

1. It is individual based i.e. you have to do it by yourself.

2. the situation here is hypothetical i.e. you don't have to act for real instead just prepare working for it.

3. the risk assessment matrix is to be prepared by using proper template.

In second para it is mentioned that more help will be for component one.

Now lets get the basic understanding of the topics -

(i am not explaining in details rather i have just tried to explain concepts.)

Component one -

1. analysis of insurance contracts - "In insurance, the insurance policy is a contract (generally a standard form contract) between the insurer and the insured, known as the policyholder, which determines the claims which the insurer is legally required to pay. In exchange for an initial payment, known as the premium, the insurer promises to pay for loss caused by perils covered under the policy language." wikipedia

but in simple terms insurance contract are done to cover up the risks of insured person, and in return the premium amount is paid to the insurance company (as the case may be)

there are generally two forms of insurance -

- Life Insurance

- General Insurance.

2. Life Insurance Contractual Provisions - these are the terms and rules laid under the insurance agreement i.e. the benefits and obligations of all the parties to contract (mention that there may be more than two parties) and the statutory requirements  , these must be in compliance with the applicable laws.

3. IRA (individual retirement account) - IRA is governed by IRS, it comes with several tax benefits, as the name indicates you can deposit investments (may be in form of stocks, mutual funds etc) in this account for retirement benefits.

on the other hand Annuities are periodic payments

4. Health insurance is the type of general insurance which covers the medical expenses.

Component Two -

1. As the name indicates the insurance of commercial property i.e cover the risk of property held for business.

2. now here the commercial liability insurance means the insurance which covers the risk of injury, product damage, property damage etc during the business operations.

3. crime insurance policy means the coverage against the crime occurring in the organisation such as fraud, theft, forgery, alteration etc

and surety bonds are signed to give the promise that the contractual obligations will be completed and in case on non completion the bonds can be forfeited.

4. employee benefits are obviously taken for providing security to employees regarding future risks.

rest of topics you can take care of easily.