FPC004 Insurance Advice - Assessment Questions

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Section B

Question 4 (20 marks | Word limit: 1,000 words)

This question is a research exercise. Use available print and web resources, including product disclosure documents, to address the following questions. Your answer should reference the product disclosure documents and other documentation used.

(a) Compare and contrast life insurance products and personal accident insurance. (10 marks)

(b) Orlando is a 26-year-old qualified electrician from Nimbin, NSW. He is in excellent health, lives on a farm and works as a sole trader. He has limited income as he mostly works under the barter system where he takes goods or services in return for his work rather than cash. This also means that the number of hours he works each week varies considerably. His greatest fear is that he has an accident while working that would prevent him from being able to perform his job and hence, he would need income because he would have nothing to barter with. Explain how a personal accident policy may be more appropriate for him as opposed to an income protection policy, and why he may not be able to rely on workers compensation. (10 marks)

Our Academic Assistance: service is all about doing research and being good at it. The more research one will do, the better the paper will turn out.

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