Title: Australian Insurance: Version 1: Many people believe that it makes good sense to purchase life insurance in one’s later years since the risk of dying increases as we age.

1) Many people believe that it makes good sense to purchase life insurance in one’s later years since the risk of dying increases as we age. Do you agree or disagree with this statement? Why?

2) Using any of the Insurance Product Disclosure Statement (PDS) below to find out the life insurance annual premiums for yourself (e.g. $10,000 of Death Cover):

Based on Australian Super:

a) at your current age,

b) if you were 50 years old, and

c) if you were 69 years old.

Are the premiums consistent with your expectations? Does this result support your argument for question 1? Why?

3) Do you think the same applies to health insurance? Using any of the Health Insurers’ website below (click “Get a quote) to find out the health insurance premiums for yourself:

Based on Medibank,

a) at your current age

b) if I were 50 years old, and

c) if I were 69 years old.

Note: Make sure that the only thing you change is your age. Keep all other information the same, e.g. your income and cover type (e.g. Single, Hospital Only Cover, Gold Cover).

Does the result surprise you? Why?

Number of Words (Answers Only): 532 (1.77Pages)

Australian Insurance: Version 1: Many people believe that it makes good sense to purchase life insurance in one’s later years since the risk of dying increases as we age: Many people believe that it makes good sense to purchase life insurance in one’s later years since the risk of dying increases as we age. Do you agree or disagree with this statement? Why? 2) Using any of the Insurance Product Disclosure Statement (PDS) below to find out the life insurance annual premiums for yourself (e.g. $10,000 of Death Cover)