6.3. Calculate premium for alife insurance policy. EXAMPLES {$100,000 insurance at $3.75 per $1,000 1. Determine the number of thousands in desired amount of coverage. $100,000 + $1,000 = 100 Multiply cost per thousand by the number of thousands in coverage. 100 x $3.75 = $375.00 premium due 63° ‘Calculate the amount of money to be pal when a property insurance policy contains an 80% coinsurance clause. ~ Determine whether 80% coverage is met by multiplying 80% by value of property. Divide the amount of coverage by the amount of insurance required. . Multiply the percent in Step 2 by the amount of Toss. > 63. Use Excel to calculate health, auto, life, and property insurance. Thinking specialized software is used in insurance. Spreadsheets can be used to track information fer records. | Today people who know they have a tax refund coming may 9° toa tax preparer who will prepare their taxes and, for a Fee, give them an immediate eehand. What are the advantages and disadvantages of using such a service? Tocate one of these tax preparers in your area. Call and find out the fee charged for providing an immediate tax refund. . The IRS says they are striving to make f writing the 1040 Instruction Booklet in federal income tax preparation easier by “plain English.” What is your opinion of this instruction booklet? Give at least three examples from the booklet that Jemonstrate your opinion, Copies of the booklet are online at www.irs.gov. Some individuals do not believe in life insurance. Why do you think this is so? What do you think about purchasing life insurance ‘assuming money is not an issue? What kind of life insurance and how much would you purchase? | What are the advantages and disadvantages of being @ member of an HMO or PPO health plan?