| Course | GF591 Individual Insurance Planning |
|---|---|
| Unit | Unit 10 |
| Paper type | Insurance plan report |
| Length | About 850 words, 6 pages double-spaced |
| Format | APA 7 student paper |
| School | Purdue University Global |
| Program | MS in Finance |
| Updated | October 2026 |
Free sample paper for GF591 Unit 10
One Net Figure, Five Changes: A Unit 10 Insurance Plan Report for a Practice-Owning Household
[Student Name]
Purdue University Global
GF591: Individual Insurance Planning
Unit 10 Insurance Plan Report
[Instructor Name]
[Date]
The household, its coverage, premiums and figures are composite and illustrative; the sources cited are real.
Summary for the Couple
Your insurance plan makes five changes. Together they cost $6,418 a year after deductible savings, about 1.57 percent of your $409,000 of combined gross income. In order of urgency:
1. Add $9,000 a month of own-occupation disability coverage for her.
2. Add a $500,000 twenty-year term policy on her.
3. Add a $400,000 twenty-year term policy on him.
4. Raise auto and condo liability limits and add a $2,000,000 umbrella before your daughter starts driving.
5. Raise auto collision and homeowners deductibles.
One decision remains open: long-term care, which this plan defers to a review when she turns 55.
Coverage Table
1. Her disability: $9,000 a month, own occupation, 90-day wait, plus riders for partial return, inflation and later increases. About $4,740 a year.
2. Her life: $500,000, twenty-year level term. About $1,020 a year.
3. His life: $400,000, twenty-year level term (Policy A). About $890 a year.
4. Liability stack: auto at $250,000 and $500,000, condo liability at $300,000, and a $2,000,000 umbrella. About $820 a year.
5. Deductibles: collision from $500 to $2,000 on both cars and homeowners from $1,000 to $5,000. Saves about $1,052 a year.
Net cost: $4,740 plus $1,020 plus $890 plus $820, less $1,052 of deductible savings, equals $6,418 a year, and every line traces back to the unit that sized it.
Why Disability Comes First
Her earning power, about $5,985,000 of gross pay to age 65, is the household's largest asset, and her existing policy replaces about a fifth of it. The disability memo found that a 90-day waiting period protects the cash reserve, which a 180-day wait would mostly drain, and that an own-occupation definition matters most for a procedural specialist. Losses of earnings after disability are large and persistent, which is why it heads the list (Meyer & Mok, 2019).
Life Insurance
Her policy. The needs calculation found capital needs of $1,661,218 against $1,180,000 of existing term cover and brokerage assets, a shortfall of $481,218. A $500,000 policy closes it with a small margin. Her existing $1,000,000 policy expires when she turns 54; the new policy runs twenty years, to 64, covering the years when the existing policy has ended but retirement savings are not yet complete.
His policy. The comparison chose Policy A over a cheaper offer whose premium could rise after ten years. His need is now met by the new policy rather than by group coverage, which would end if he changed jobs. The group life stays in place as a bonus, but no part of the plan depends on it, which is a change from how the household had thought about his coverage before this course of work began.
Liability
The liability review counted $864,000 of assets a judgment could reach and found current limits far below the plausible claims from a new teen driver or a fall at the condo. The new stack pays both scenarios in full. The umbrella excludes her professional services, so the practice's malpractice policy remains a separate line.
Retained Risks
The plan keeps some risks deliberately, each below the $6,400 retention ceiling, a tenth of the cash reserve:
1. Collision damage up to $2,000 per car.
2. Home damage up to $5,000 per claim.
3. Small medical, dental and vision costs within the health plan's deductibles.
4. Loss of personal items below the homeowners deductible.
Paying small, predictable losses directly is cheaper over time than insuring them, since low deductibles are among the most overpriced choices households make (Sydnor, 2010).
Long-Term Care, Deferred
Long-term care is not purchased now. At 44 and 46, the premium would run for decades before any likely need, and the household's assets will be much larger by the time care becomes a realistic risk. The plan sets a review at her 55th birthday to compare a traditional policy, a hybrid life and care policy, and self-funding.
Cost Reconciliation
Annual premium increases total $7,470. Deductible savings are $1,052. Net cost is $6,418, or about $535 a month. The household's monthly surplus after current saving is about $2,900, so the plan uses roughly 18 percent of it, leaving room for the saving goals in the broader financial plan.
Review Triggers
1. The teen's license. Confirm the new auto limits and umbrella are in force before the first solo drive.
2. Her 54th birthday. The existing term policy expires; recalculate the life need.
3. A practice sale. Proceeds held personally would raise exposed assets and could justify a higher umbrella limit.
4. Her 55th birthday. Long-term care review.
5. Any job change for him. Confirm that the new term policy, not group coverage, carries his need.
Following standard risk management practice, the plan identifies each exposure, measures it and chooses a treatment, then sets dates to measure again (Rejda et al., 2020).
References
Meyer, B. D., & Mok, W. K. (2019). Disability, earnings, income and consumption. Journal of Public Economics, 171, 51-69. https://doi.org/10.1016/j.jpubeco.2018.06.011
Rejda, G. E., McNamara, M. J., & Rabel, W. H. (2020). Principles of risk management and insurance (14th ed.). Pearson.
Sydnor, J. (2010). (Over)insuring modest risks. American Economic Journal: Applied Economics, 2(4), 177-199. https://doi.org/10.1257/app.2.4.177
The Purdue Global GF591 Unit 10 instructions
The last GF591 assignment combines the semester's insurance analyses into one plan for a household. Begin with a summary the clients can read alone: the net cost, the changes in order of urgency and any decision still open. Add a coverage table listing each change with its amount, key terms and premium. Write a section for each risk that restates the earlier analysis briefly and explains its place in the order. Where facts or decisions changed since an earlier unit, say so. List the risks the household will keep and why each stays below the retention ceiling. Explain any coverage deferred. Reconcile costs: premiums added, savings from deductibles, the net figure and its share of income and surplus. Close with review triggers tied to dates and events. Cite risk management and household finance research in APA 7.
How this GF591 Unit 10 example is built
A summary for the couple opens the report with the net cost and five numbered changes. A coverage table lists the disability policy, both term policies, the liability stack and the deductible changes with premiums, and the highlighted sentence reconciles them to $6,418. A disability section explains why it comes first, citing Meyer and Mok. A life section restates the $481,218 shortfall for her and the move from group to individual cover for him. A liability section summarizes the $864,000 exposure. A retained risks section lists four items under the $6,400 ceiling, citing Sydnor on low deductibles. Long-term care is deferred to 55. A cost reconciliation sets the net figure against a $2,900 monthly surplus, and five review triggers close the report, citing Rejda and colleagues.
Reading the GF591 Unit 10 grading rubric
The GF591 capstone rubric weights reconciliation heavily: every coverage must carry an amount, a premium and a reason, and the totals must add to a net figure that matches the summary. Graders reward a summary written for the clients that stands on its own, with changes ranked by urgency. Each risk section should carry its earlier analysis forward and note any revision, so the report reads as one plan. Instructors in the MS in Finance program value a retained risks page that explains why each item stays with the household, a reasoned deferral where coverage is postponed, and review triggers tied to real events. Meyer and Mok on disability, Sydnor on deductibles and the Rejda risk management text supply the research and method behind the report.
GF591 Unit 10 help from the desk
GF591 Unit 10 reports often staple earlier units together with their original headings, so the plan never reconciles. Premiums appear in the coverage table but not in a total, or deductible savings are forgotten. Changes are listed by product type instead of urgency. Revisions since earlier units are made silently, leaving the reader to wonder why figures moved. Retained risks are omitted, as if the household insures everything. Long-term care is ignored rather than deferred with a date. Review triggers are generic, such as review annually. For any family your GF591 section studied, the report should still move through a standalone summary, a coverage table, risk sections in order of urgency with revisions noted, retained risks under the ceiling, deferred items, a cost reconciliation against income and surplus and event-based triggers.
Get a GF591 Unit 10 example written to your instructions
Gather your earlier GF591 unit work, the household case, the report format and the rubric. The custom report reconciles every coverage to the analysis that sized it, totals a single net cost against the budget, lists retained risks and sets dated review triggers. It stays coursework, never insurance advice. The first sample is free; 24-48h. The paper above is an original model document written by our desk, not a submitted student paper and not an official Purdue University Global document.
More GF591 papers and MS in Finance samples
- GF591 Unit 1: Sewer Backup Exclusion Discussion Post
- GF591 Unit 2: Household Exposure Inventory
- GF591 Unit 3: Endodontist Life Insurance Needs
- GF591 Unit 4: Three Clause Death Claim Reading
- GF591 Unit 5: Own Occupation Disability Memo
- GF591 Unit 6: Wind and Surge Claim Seminar Reflection
- GF591 Unit 7: Long Term Care Cost and Policy Analysis
- GF591 Unit 8: Two Term Life Policies Compared
- GF591 Unit 9: Umbrella and Liability Coverage Review
- GF590 Unit 10: Pharmacist and Teacher Financial Plan
- GF585 Unit 10: Linen Service Annual Planning Report
- GF584 Unit 10: Dryer Maker Risk Management Report
- GF500 Unit 10: Private Credit Sector Appraisal
GF591 Unit 10 questions, answered
Should the report revise figures from earlier units?
Yes, where facts or decisions changed, and it should say so. The sample's need on the husband's death was first computed with group life in view; the report restates it with the new term policy in place and notes the revision. Silent changes look like errors, while flagged changes show a plan being kept consistent from unit to unit.
How long should an insurance plan report be?
Whatever the prompt sets; many sections ask for ten to fifteen pages. The sample runs about twelve, with a two-page summary a client could read alone. Length should come from the number of risks covered, not from restating earlier papers in full, so summarize each prior analysis and point back to it.
Is long-term care required in the plan?
It should be addressed, even when the answer is to wait. For a couple in their mid-forties, buying now is rarely the recommendation, but ignoring the risk entirely looks like an omission. The sample defers long-term care to a review at 55 and states the facts that would bring that date forward, such as a family diagnosis.
Where can I find a free GF591 Unit 10 sample paper?
This page holds a full GF591 Unit 10 insurance plan report for a dentist and engineer household, with a coverage table, a $6,418 net cost reconciliation, retained risks, review triggers and APA 7 references.
How was the net cost of $6,418 reached?
New premiums of about $4,740 for disability, $1,020 and $890 for the two term policies and $820 for the liability stack total $7,470. Raising deductibles saves $1,052, leaving $6,418 a year.