2019-01-25T10:46:55+00:00
Calculate Paul’s monthly claim under his income protection insurance cover if he decides not to take up the offer to return to work on a part -time basis.
This paper concentrates on the primary theme of Calculate Paul’s monthly claim under his income protection insurance cover if he decides not to take up the offer to return to work on a part -time basis. in which you have to explain and evaluate its intricate aspects in detail. In addition to this, this paper has been reviewed and purchased by most of the students hence; it has been rated 4.8 points on the scale of 5 points. Besides, the price of this paper starts from £ 40. For more details and full access to the paper, please refer to the site.
Question; income protection insurance policy
Following your advice a few years ago, Paul Sandilands took out an income protection insurance policy which provided for indemnity cover equivalent to 75% of his earnings payable monthly in arrears. Unfortunately, about 3 months ago, Paul was injured in a workplace accident and is only now getting back to full physical fitness. Prior to his accident, Paul’s before-tax monthly income was $5,000 ($3,800 after-tax). Paul is feeling bored staying at home and is considering going back to work on a part-time basis (3 mornings per week) as long as he is better off financially from doing so. His employer has offered him a before-tax monthly salary
of $2,500 ($2,100 after-tax) if he goes back to work part-time.
Required
(1) Calculate Paul’s monthly claim under his income protection insurance cover if he decides not to take up the offer to return to work on a part
-time basis.
(2) Calculate Paul’s monthly claim under his income protection insurance cover if he decides to take up the offer to return to work on a part-
time basis.
(3) Is Paul financially better returning to work on a part-time basis? Provide relevant calculations to justify your response.
Get Fresh Answer: £40 100% Plagiarism Free & Custom Written, Tailored to your instructions