Even if I obeyed traffic laws and was the most careful driver in the world, there is always an uncertainty for the events that may occur on the road, such as an accident that may involve myself. As of now I am currently insured under the protection of Allstate. Allstate’s liability coverage protects me ( doesn’t cover my injuries or damages to property) if I am at fault for an accident. Liability coverage is made up of two components: bodily injury liability and property damage liability. The premium for liability insurance is $635.28 covering Bodily Injury ($100,000/person), …show more content…
When dealing with such conditions, it is always important to be prepared for the outcome of an event and have it not happen at all than to not be prepared and face the consequences when it does. Health insurance is a vital part in maintaining a healthy lifestyle, because it provides essential health benefits critical to maintaining health in order to treat illnesses. By having health insurance for all things unexpected, unpredictable, and uncontrollable, individuals provide a safety net for themselves, so that they can prepare for the worst. Individuals who don 't have insurance might feel as if they are healthy now, but staggering medical bills can leave a dent in your financial life. The inability to pay medical bills can set you back on your credit history, or possibly even bankruptcy. Luckily, for many Americans, insurance is provide by either the employer or the government. Institutions like Portland State require that students have health insurance in order to insure that students are healthy and that all risk is minimized. For those who don 't have insurance, Portland State offers comprehensive medical insurance coverage through PacificSource for students that are enrolled and are taking 5 or more credits. The student health insurance plan for the 2015-16 academic year is $776 for each eligible term (Fall, Winter, and a Spring/Summer* combination). At this …show more content…
For many, life insurance doesn 't just serve them, but also the livelihood of their loved ones as it offers financial support in their absence. A passing of a family member is often difficult as it is emotional and financial burden.With the absence of a family member, cost such as funeral and burial cost, debts, mortgages, credit cards loans, etc. will be passed on to surviving members of your family.
Although death is inevitable, we will never know the exact time or date of our passing, no amount of money can ever replace a loved one, but life insurance offers reassurance for the things bond to happen in life. Although death can be a sad subject I find it comforting that even after my death, my family is still taken care of. As of now, I feel that I do not need life insurance, because no one is dependant of me, but it is a subject that I will have address in the future when my responsibilities will become much bigger, such as paying of mortgage, financing a children 's education, paying bills, etc. In order to calculate my future life insurance needs, I have decided to use the multiple approach, Based on the salary of $81,312 (career choice), at a period of 15 years, with an inflation of 5% after taxes, my level of life insurance will be at $658,334.48. I feel that this will be more than enough to cover my funeral cost and other financial expenses in my absence. Like all financial planning, it is always