Case Study Amelia Question & Answer Guide (With Explanation)
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Original Question
Case Study 2: Amelia and Liam Your clients Amelia and Liam are a young couple in a relationship. They have no children at the moment but are planning to start a family in the next five years. They have no debt and are saving for their first home, which is a top goal for them. Both are healthy and non- smokers, but both also have a family history of cancer. Ameliais 26 years old and works as an administrative assistant for a local telecommunications firm, earning $55,000. She wishes to start a home-based business after she and Liam start a family. Amelia’s mother is in remission after a battle with breast cancer just over seven years ago. Liamis 29 years old and works as a physiotherapist earning $68,000. This is likely to increase in the next two years when he gains further experience. He has a student loan of $24,000 and is making extra repayments to pay this off as quickly as possible. Liam’s father passed away from prostate cancer when Liam was eight years old, so he has seen his mother struggle through financial difficulty while still raising a family. Taking out a personal protection plan is extremely important to both Amelia and Liam; this is what they have approached you about. They tell you that they do not believe it is necessary for them to take out private health insurance currently, as the New Zealand healthcare system has done extremely well for both their parents. They will consider this again once they have expanded their family. You know the funds available for insurance premiums are limited, but they are prepared to hear options on how to save on their premiums long-term. Task 8: Risk assessment Identify and evaluate the personal risks that Amelia and Liam face. You are required to: • complete a risk matrix (below) • briefly justify your placings in the matrix. Severity High Low High Probability (Word count guideline: 150 words)
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