3-1 Final Project Milestone One: Draft of General Contract Provisions, Personal Liability, and Life Insurance Plans

Attached is the rubric for the assignment and the case studyOverview

For the final project, you will create an insurance plan for your clients as described in the provided case study. Your plan will include analyses of the clients’ existing coverage, recommendations to improve their coverage, and recommendations on future insurance options. To create this plan, you will review and analyze the clients’ information and goals. Upon completing this assessment, you will have demonstrated your expertise in general insurance planning and social benefit programs, understanding the role these products and benefits play in personal financial planning.

For Milestone One, your clients have asked you to evaluate their insurance needs and the insurance coverage they already have. You will submit a draft of the general contract provisions, personal liability, and life insurance sections of the insurance plan. Your response should be thoughtful and professional. Include detailed recommendations for your clients based on your findings and analysis of their situation. To effectively address the rubric criteria for this milestone, you will use the information found in the case study.

Directions

Review the Final Project Case Study and background of your new clients and address the assigned rubric criteria regarding principles of risk and general contract provisions, personal liability insurance, and life insurance.

Specifically, you must address the following rubric criteria:

1. Principles of Risk and General Contract Provisions: In this section, you will analyze the clients’ risks and recommend general contract provisions. Make insurance company considerations based on your analysis.
   1. Identify any risks to the clients that should have insurance coverage by analyzing their information. Support your identification with relevant client information.
   2. Based on your identified risks, recommend general contract provisions the clients should include in their auto and home insurance policies.
   3. Determine considerations the clients should make when selecting an insurance company to work with. Support your determination with relevant principles of risk.
2. Personal Liability Insurance: In this section, you will review the clients’ auto and homeowner’s insurance and recommend any necessary changes. Consider the effects that certain purchases may have on the clients’ insurance coverage.
   1. Determine the clients’ auto insurance needs by analyzing their information. Support your determination with relevant client information.
   2. Discuss if the clients’ existing auto coverage meets their insurance needs. Make recommendations to improve coverage where necessary. Support your response with relevant client information.
   3. Determine the clients’ homeowner’s insurance needs by analyzing their information. Support your determination with relevant client information.
   4. Discuss if the clients’ existing homeowner’s policy meets their insurance needs. Make recommendations to improve coverage where necessary. Support your response with relevant client information.
   5. Describe the impact that buying a trampoline and a dog would have on the clients’ homeowner’s insurance. Make appropriate recommendations for additional coverage the clients should consider.
3. Life Insurance Policy: In this section, use tools, such as the needs analysis model, to analyze the clients’ life insurance policies and needs and make appropriate recommendations.
   1. Conduct a life insurance needs analysis for the clients using an appropriate needs analysis model. Determine the clients’ life insurance needs using the needs analysis model.
   2. Discuss if the clients’ existing life insurance policies meet their coverage needs. Support your discussion with relevant client information.
   3. Recommend appropriate changes for the clients’ life insurance based on your needs analysis. Support your recommendations with specific examples.

What to Submit

Submit a 3- to 4-page Microsoft Word document with 12-point Times New Roman font, double spacing, one-inch margins, and APA format. Your supporting research should be as up to date as possible. Any news stories, press releases, or additional sources must be dated within the last 60 days. Company data should be no more than one year old. Using older data may result in being asked to resubmit your work.