Bob and Barbara Castle Are Each 39 Years Old and Have

question 5

Multiple Choice

Bob and Barbara Castle are each 39 years old and have sought your advice with regard to their financial affairs.Bob is a school administrator making $75,000 per year and Barbara is not employed outside of the home.The Castles' net worth is approximately $190,000.They have three kids ages,6,10,& 14.You have determined that the Castles currently have adequate life,health,auto,and homeowner's insurance.Which of the following forms of insurance is likely to fulfill their highest priority risk management need?

• A) Supplemental major medical insurance
• B) Disability income insurance
• C) Critical illness insurance
• D) Long-term care insurance
• E) Additional life insurance

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Definitions:

Families

Social units consisting of parents and their children, whether living together or apart, and often including other relatives.

Genetics

The branch of biology that studies genes, genetic variation, and heredity in organisms.

Cognitive Development

The process by which individuals acquire and understand knowledge through thought, experience, and the senses.

Complex Problems

Complex problems are multifaceted issues that cannot be solved through simple solutions or answers, often requiring critical thinking, creativity, and the integration of diverse information to address.