Insurance case study Example | Topics and Well Written Essays - 500 words

Insurance - Case Study Example shows that he gets around $6Â  875 but there are other factors that need to be taken into consideration with regards to the actual net income he will get. This gross income is subject to tax deductibles. The other issue that the Walter should seriously take into consideration is that he is still young and his family is young too. His family history of BP prevalence makes it imperative for him to prioritize his healthcare issues. It is therefore recommended that Walter should make sure that he together with his family are fully covered in terms of health policies instead of focusing on other activities that are considered luxury. It is imperative for Walter to review his monthly income and expenditure in order to be able to draw a budget that is commensurate with the disposable money available. Walter risks incurring debts that may pose a burden to him if he fails to concentrate on basic things such as life and health insurances on top of other needs. On the other hand, it can be noted that Jessica’s monthly income is little and not consistent since she survives on part time jobs. There are other issues such as tax implications that cannot be evaded so Jessica should make sure that she operates within budget in order to be in a position to meet basic needs in life. Instead of craving for fancy things which expensive at the same time, it is recommended that Jessica should at least focus on pertinent issues that will secure her life in the event of unprecedented scenarios happening. Buying an expensive car on credit does not add value to their lives. Life and health insurances are more important than other luxury expenses that seem to gobble much of her income. In this case, Jessica should revise down expenses such as entertainment, clothing as well as groceries. Essentially, Jessica should prioritize life and insurance issues considering that her children are also under her custody. Indeed, she has responsibility for them. In order to be on the safe side given her