FIN 355 Final Project Guid

FIN 355 Final Project Guidelines and Rubric
Overview
The final project for this course is the creation of an insurance
plan.
Financial planning is all about determining short-term and long-
term goals and budgeting to meet those goals. In this course,
you will focus specifically on
identifying risk and working to mitigate against risks through
the use of appropriate insurance policies. Doing so ensures that
financial goals are not
unexpectedly derailed. The types of insurance that are used for
mitigating against common risks are personal liability

insurance, life insurance, health, disability,
and long-term care insurance, as well as Social Security,
Medicare, and Medicaid. Additionally, within all types of
insurance, there are general contract provisions
and risk principles that all clients must consider. Throughout
the course, you will analyze the types of insurance highlighted
above and determine how clients can
utilize them to mitigate against their risks.
This course also provides you with a key component of the
qualification criteria for taking the CFP (Certified Financial
Planner) examination. This certification is a
powerful tool that can provide you with the foundation for a
successful career as a financial planning professional.
For the final project, you will create an insurance plan for
fictitious clients described in the provided scenarios. This plan
will include analyses of the clients’
current coverage, recommendations to improve their coverage,
and recommendations on future insurance options. To do this,
you will review and analyze the
clients’ information and goals. Upon completing this
assessment, you will have demonstrated your expertise in
general insurance planning and social benefit
programs and the role these products and benefits play in
financial planning.
The project is divided into two milestones, which will be
submitted at various points throughout the course to scaffold
learning and ensure quality final
submissions. These milestones will be submitted in Modules
Three and Five. The final submission is due in Module Seven.
In this assignment, you will demonstrate your mastery of the
following course outcomes:

insurance policies for determining the insurance needs of clients
insurance for explaining policy details to potential clients
-term care
insurance options for making appropriate insurance
recommendations to clients
Security, Medicare, and Medicaid for determining how they
integrate with clients’ financial standing
and insurance needs
appropriate recommendations that suit the clients’ needs

Prompt
The clients in the scenario are looking for a financial planner to
assist with insurance and financial planning throughout the
course of their lives. You will write an
insurance plan for the clients that includes recommendations for
life insurance policies, health, disability, and long-term care
insurance policies, Social Security,
Medicare and Medicaid, and personal liability insurance
policies. As you follow the clients through their lives, you will
utilize the provided scenarios that highlight
basic information about the clients in regard to the types of
coverage you are working with.
Specifically, the following critical elements must be addressed:
I. Principles of Risk and General Contract Provisions: In this
section, you will analyze the clients’ principles of risk and
general contract provisions and
make insurance recommendations based on your analysis. To
effectively address the critical elements in this section, you
must use the client information
in the first scenario.
A. Identify risks to the clients for which they should have
insurance coverage by analyzing the clients’ information.
Support your identification with
relevant client information.
B. Based on your identified risks, recommend general contract
provisions the clients should include in their auto and home
insurance policies.
C. Determine considerations the clients should make when
selecting an insurance company with which they will work.
Support your discussion
with relevant principles of risk.

II. Personal Liability Insurance: In this section, you will review
the clients’ auto and homeowners insurance and recommend any
necessary changes. You
must consider the effects that certain purchases may have on the
clients’ insurance coverage. To effectively address the critical
elements in this section,
you must use the client information in the first scenario.
A. Determine the clients’ auto insurance needs by analyzing the
clients’ information. Support your determination with relevant
client information.
B. Discuss the ability of the clients’ current auto coverage to
meet their insurance needs, and make recommendations to
improve coverage where
necessary. Support your response with relevant client
information.
C. Determine the clients’ homeowners insurance needs by
analyzing the clients’ information. Support your determination
with relevant client
information.
D. Discuss the ability of the clients’ current homeowners policy
to meet their insurance needs, and make recommendations to
improve coverage
where necessary. Support your response with relevant client
information.
E. Describe the impact the purchase of a trampoline and a dog
would have on the clients’ homeowners insurance, and make
appropriate
recommendations for additional riders the clients should
consider.

III. Life Insurance Policy: In this section, you will analyze the
clients’ life insurance policies and needs and make appropriate
recommendations by utilizing
tools, such as the needs analysis model. To effectively address
the critical elements in this section, you must use the client
information in the first
scenario.
A. Conduct a life insurance needs analysis for the clients using
an appropriate needs analysis model. Determine the clients’ life
insurance needs
using the needs analysis model.
B. Discuss the ability of the clients’ current life insurance
policies to meet their coverage needs. Support your discussion
with relevant client

information.
C. Recommend appropriate changes for the clients regarding
their life insurance based on your needs analysis. Support your
recommendations
with specific examples.
IV. Health, Disability, and Long-Term Care Insurance: In this
section, you will evaluate the clients’ current health, disability,
and long-term care insurance
coverage and make appropriate recommendations for their
needs. To effectively address the critical elements in this
section, you must use the client
information in the first scenario.
A. Analyze potential health insurance options for the clients,
and recommend a health insurance option that best meets the
clients’ needs.
Support your recommendation with relevant client information.
B. Discuss the ability of the clients’ disability insurance to meet
their coverage needs, making recommendations where
appropriate. Support your
response with relevant client information.
C. Analyze the clients’ health information and determine at
what age the clients should purchase long-term care insurance.
Support your
determination with relevant client information.
V. Social Security, Medicare, and Medicaid: In this section, you
will analyze the eligibility requirements for and benefits of
Social Security, Medicare, and
Medicaid and make recommendations to the clients about the
age at which they should retire to maximize their retirement
benefits. To effectively

address the critical elements in this section, you must use the
client information in the second scenario.
A. Summarize common eligibility requirements for Social
Security, and explain how the clients can maximize their Social
Security benefits.
B. Differentiate between Medicare and Medicaid, and explain
how and why the clients will or will not benefit from the
programs. Support your
explanation with relevant client information.
C. Recommend a retirement age for each client that will al low
them to take full advantage of all retirement benefits. Support
your
recommendation with relevant client information.
Milestones
Milestone One: Draft of General Contract Provisions, Personal
Liability, and Life Insurance Plans
In Module Three, you will submit a draft of the general contract
provisions, personal liability, and life insurance sections of the
insurance plan. John and Jenny
Smith have requested your help in evaluating both their
insurance needs and the insurance coverage they already have.
Review the case notes and background
of your new clients, and address the assigned critical elements
regarding principles of risk and general contract revisions, life
insurance, and personal liability
insurance. Responses should be thoughtful and professional and
include detailed recommendations that you would make to John
and Jenny based upon your
findings and analysis of their situation. This milestone is graded
with the Milestone One Rubric.
Milestone Two: Draft of Health, Disability, and Long-Term

Care Insurance and Social Security, Medicare, and Medicaid
Plans
In Module Five, you will submit a draft of the health, disability,
and long-term care insurance, and Social Security, Medicare,
and Medicaid sections of the
insurance plan. There are two parts of Milestone Two. In the
first part of Milestone Two, you meet with your clients John
and Jenny Smith to discuss questions
they have about health insurance and disability insurance. They
want your help in evaluating both their insurance needs and the
insurance coverage they already
http://snhu-
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5/fin355_milestone_one_case_study.pdf
have. The Smiths have also decided they would like to start
planning for retirement and would like some information on

long-term care insurance. Review the
case notes and background of your clients, and address the
assigned critical elements regarding health, disability, and long-
term care insurance.
In the second part of Milestone Two, 20 years have passed, and
John and Jenny now have some new questions, concerns, and
needs regarding Social Security,
Medicaid, and Medicare. Review the case notes and background
of your clients, and address the assigned critical elements
regarding Social Security, Medicare,
and Medicaid. This milestone is graded with the Milestone Two
Rubric.
Final Submission: Insurance Plan
In Module Seven, you will submit your insurance plan. It should
be a complete, polished artifact containing all of the cr itical
elements of the final product. It
should reflect the incorporation of feedback gained throughout
the course. This final submission will be graded using the Final
Project Rubric.
Final Project Rubric
Guidelines for Submission: Your insurance plan should adhere
to the following formatting requirements: 6–8 pages, double-
spaced, using 12-point Times New
Roman font, one-inch margins, and APA format.
Critical Elements Exemplary (100%) Proficient (85%) Needs
Improvement (55%) Not Evident (0%) Value
Principles of Risk and
General Contract
Provisions: Risks to
the Clients

Meets “Proficient” criteria, and
response demonstrates a
sophisticated awareness of
what constitutes an insurance
risk
Identifies risks to the clients for
which they should have
insurance coverage by analyzing
the clients’ information, and
supports identification with
relevant client information
Identifies risks to the clients for
which they should have
insurance coverage by analyzing
the clients’ information, but
response is cursory or illogical
or contains inaccuracies, or
supporting client information is
irrelevant or nonexistent
Does not identify risks to the
clients for which they should
have insurance coverage
6.4
General Contract
Provisions: General
Contract Provisions

response makes cogent
connections between the
recommended general contract
provisions and the identified
risks
Recommends general contract
provisions the clients should
include in their auto and home
insurance policies based on the
identified risks
Recommends general contract
provisions the clients should
include in their auto and home
insurance policies, but
recommendations are cursory,
illogical, or not based on the
identified risks
Does not recommend general
contract provisions the clients
should include in their auto and
home insurance policies
6.4
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media.snhu.edu/files/course_repository/undergraduate/fin/fin35
5/fin355_milestone_two_case_study.pdf

General Contract
Provisions:
Considerations
determination makes cogent
connections between the client
considerations and the relevant
principles of risk
Determines considerations the
clients should make when
selecting an insurance company
and supports discussion with
relevant principles of risk
Determines considerations the
clients should make when
selecting an insurance
company, but determination is
cursory or illogical, or
supporting principles of risk are
not relevant or are nonexistent

Does not determine
considerations the clients
should make when selecting an
insurance company
6.4
Personal Liability
Insurance: Auto
Insurance Needs
nuanced understanding of the
clients’ auto insurance needs
Determines the clients’ auto
insurance needs by analyzing
the clients’ information and
supports determination with
Determines the clients’ auto
insurance needs by analyzing
the clients’ information, but
determination is cursory or
illogical, or supporting client
information is irrelevant or
nonexistent
Does not determine the clients’
auto insurance needs
3.84
Personal Liability

Insurance: Current
Auto Coverage
clients’ information and the
details of their current auto
insurance
Discusses the ability of the
clients’ current auto coverage
to meet their insurance needs,
making recommendations to
necessary, and supports
response with relevant client
information
clients’ current auto coverage
to meet their insurance needs,
making recommendations to
necessary, but response is
cursory or illogical or contains
inaccuracies, or supporting
client information is irrelevant
or nonexistent
Does not discuss the ability of
the clients’ current auto
coverage to meet their
insurance needs

3.84
Personal Liability
Insurance:
Homeowners
Insurance Needs
clients’ homeowners insurance
needs
Determines the clients’
homeowners insurance needs
by analyzing the clients’
information and supports
determination with relevant
client information
Determines the clients’
by analyzing the clients’
information, but determination
is cursory or illogical, or
3.84

Personal Liability
Insurance: Current
Homeowners Policy
details of their current
homeowners policy
clients’ current homeowners
policy to meet their insurance
needs, making
recommendations to improve
coverage where necessary, and
supports response with relevant
client information
clients’ current homeowners
policy to meet their insurance
needs, making
recommendations to improve
coverage where necessary, but

the clients’ current
homeowners policy to meet
their insurance needs
3.84
Personal Liability
Insurance: Impact
recommendations demonstrate
a nuanced approach in altering
to meet their evolving needs
Describes the impact the
purchase of a trampoline and a
dog would have on the clients’
homeowners insurance, making
appropriate recommendations
for additional riders the clients
should consider
Describes the impact the
purchase of a trampoline and a
dog would have on the clients’
homeowners insurance, making
recommendations for additional
riders the clients should
consider, but description is

cursory or contains
inaccuracies, or
recommendations for additional
riders are inappropriate or
illogical
Does not describe the impact
the purchase of a trampoline
and a dog would have on the
3.84
Life Insurance Policy:
Life Insurance Needs
Analysis
clients’ life insurance needs
Determines the clients’ life
insurance needs by conducting
a needs analysis using an
appropriate needs analysis
model
Determines the clients’ life
insurance needs by conducting
a needs analysis, but
determination is illogical or
contains inaccuracies, or model
used is inappropriate

life insurance needs by
conducting a needs analysis
6.4
Current Life Insurance
discussion makes cogent
details of their current life
insurance policies
clients’ current life insurance
policies to meet their coverage
needs and supports discussion
with relevant client information
clients’ current life insurance
policies to meet their coverage
needs, but discussion is cursory
or illogical or contains
or nonexistent
the clients’ current life
insurance policies to meet their
coverage needs

Appropriate Changes
Meets “Proficient” criteria and
makes cogent connections
between the recommended
changes, specific results from
the needs analysis, and client
information
Recommends appropriate
changes for the clients
regarding their life insurance
based on the results of the
needs analysis and supports
recommendations with relevant
client information
Recommends changes for the
clients regarding their life
insurance, but
recommendations are illogical,
not appropriate, or not based
on the results of the needs
analysis, or supporting client
information is irrelevant or
nonexistent
Does not recommend changes

for the clients regarding their
life insurance
6.4
Health, Disability, and
Long-Term Care
Insurance: Potential
Health Insurance
Options
Meets “Proficient” criteria and
makes cogent connections
between the recommended
health insurance option and
Analyzes potential health
insurance options for the
clients, recommending a health
insurance option that best meet
the clients’ needs, and supports
recommendation with relevant
client information
Analyzes potential health
insurance options for the
insurance option to the clients,
but analysis is cursory or
contains inaccuracies, or
recommended insurance option
is not appropriate, or

Does not analyze potential
health insurance options for the
insurance option to the clients
6.4
Long-Term Care
Insurance: Disability
Insurance
discussion makes cogent
details of their disability
insurance
clients’ disability insurance to
meet their coverage needs,
making recommendations
where appropriate, and
supports response with relevant
client information
clients’ disability insurance to
meet their coverage needs,
where appropriate, but

the clients’ disability insurance
to meet their coverage needs,
where appropriate
6.4
Long-Term Care
Insurance: Long-Term
Care Insurance
complex grasp of the clients’
long-term needs
Analyzes the clients’ health
information, determining at
what age the clients should
purchase long-term care
insurance, and supports
determination with relevant
client information
Analyzes the clients’ health
information, determining at
what age the clients should
insurance, but response is

or nonexistent
Does not analyze the clients’
health information, determining
at what age the clients should
insurance
6.4

Social Security,
Medicare, and
Medicaid: Common
Eligibility
Requirements
sophisticated awareness of how

the clients can take advantage
of Social Security’s eligibility
requirements to maximize their
benefits
Summarizes common eligibility
requirements for Social Security
and explains how the clients can
maximize their Social Security
benefits
Summarizes common eligibility
requirements for Social Security
and explains how the clients can
maximize their Social Security
benefits, but response is
inaccuracies
Does not summarize common
eligibility requirements for
Social Security and explain how
the clients can maximize their
Social Security benefits
6.4
Social Security,
Medicare, and
Medicaid: Medicare
and Medicaid
sophisticated awareness of how

the clients’ information will
impact their Medicare and
Medicaid benefits
Differentiates between
Medicare and Medicaid,
explaining how and why the
clients will or will not benefit
from the programs, and
supports explanation with
Differentiates between
from the programs, but
Does not differentiate between
from the programs
6.4
Social Security,
Medicare, and
Medicaid: Retirement
Age

recommendation makes cogent
connections between all
retirement benefits and specific
client information
Recommends a retirement age
for each client that will allow
them to take full advantage of
all retirement benefits, and
supports recommendation with
Recommends a retirement age
for each client that will allow
them to take advantage of
retirement benefits, but
recommendation is illogical or
does not allow clients to take
full advantage of all benefits, or
Does not recommend a
retirement age for each client
that will allow them to take
advantage of retirement
benefits
6.4
Articulation of
Response
Submission is free of errors
related to citations, grammar,

spelling, syntax, and
organization and is presented in
a professional and easy-to-read
format
Submission has no major errors
spelling, syntax, or organization
Submission has major errors
that negatively impact
readability and articulation of
main ideas
Submission has critical errors
that prevent understanding of
ideas
4
Total 100%
FIN 355 Final Project Guidelines and Rubric Overview Prompt
Milestones Milestone One: Draft of General Contract
Provisions, Personal Liability, and Life Insurance Plans
Milestone Two: Draft of Health, Disability, and Long-Term
Care Insurance and Social Security, Medicare, and Medicaid
Plans Final Submission: Insurance Plan Final Project Rubric
DAT/565 v3
Market Analysis Research

DAT/565 v3
Page 2 of 2
Wk 3 Market Analysis ResearchSection 1 - Business overview,
mission and vision
Describe a proposed business of your choice. Address the
following in your summary:
· What type of product/service will it offer?
· What is the intended market?
· What is the business model?
Articulate the business’s mission and vision statements.
Section 2 - Market analysis 
Based on your intended product or service, describe the
characteristics of your customer base.
Investigate and list your current competitors. For example, if
you’re manufacturing and selling exercise equipment, current
competitors would be companies like NordicTrack or Nautilus,
Inc. To simplify the process, limit yourself to businesses you
are competing directly against. If your business is a local bistro,
then your competitors are other local similar restaurants.
Research and estimate the size of your intended market. Market
size is the number of potential customers or unit sales for your
products/services. Consider the nature of your business when
researching market size. For instance, if your business is a local
bistro, then your market size is determined by the population
within a reasonable radius of the restaurant, say, 5-15 miles
maximum. On the other hand, if your business intends to sell a
low-weight mountain bicycle online, then the market size is the
average number of low-weight mountain bicycles sold
nationwide annually.
Estimate the value of your market. Market value is the potential
revenues the market has to offer. For instance, suppose low -

weight mountain bicycles have a market size of 300,000 units a
year with a $500 average price. Then the market value would be
$150,000,000.
It can be difficult to estimate market value as you must make
assumptions related to market size and average unit price. Use
the expected value concept introduced in Chapter 6 of the
textbook and the chart below to do the estimation.
Expected Market Value: Mountain Bicycle Scenario 
Assumptions 
Probability p(x) 
Units ('000) 
Avg. Unit Price ($) 
Market Value ('$000) 
Expected Market Value ('$000)
Pessimistic 
0.2
100
450
45,000
9,000
Most Likely 
0.5
100
500
50,000
25,000
Optimistic 
0.3
100
550
55,000
16,500
Totals
1.0
300

500
150,000
50,500
Calculations:
Probability, P(x) must sum to 1.0 (100%)
Market Value = Units * Ave. Unit Price ($)
Expected Market Value = Market Value * Probability
Estimate the total addressable market or TAM. This is the
fraction of the total market you realistically estimate to get.
Most businesses have a relatively modest market share, well
under 20%. For example, if we expect to get a 5% share of the
mountain bicycle market, then our TAM would be 0.05 *
$50,500,000 = $2,525,000 or approximately $2.5 million.
Section 3: Recommendation
Based on the information collected, do you feel it is a good idea
to continue with the implementation of the business? Explain
why or why not.
Cite references to support your assignment.
Format your citations according to APA guidelines.
Copyright 2021 by University of Phoenix. All rights reserved.
Copyright 2021 by University of Phoenix. All rights reserved.
FIN 355 Milestone Two Case Study
Part A

Health Insurance
John’s company recently changed their health insurance
offering. Jenny’s dental office does not
offer any health insurance options. John and Jenny can choose
between the following two
health offerings:
Option 1 Option 2
Annual Deductible
• $1,500 if you cover yourself
only
plus one or more dependents
only
Medical Coinsurance
• 10% of all covered in-
network services other than
certain preventive care
• 30% up to MRC of all
covered out-of-network
services other than certain

preventive care
• 10% of all covered in-
network services other than
certain preventive care
• 30% up to MRC of all
covered out-of-network
services other than certain
preventive care
Prescription Coinsurance
• 15% of the cost of the
generic (tier 1) drug up to
the per-prescription
maximum ($25 pharmacy,
$63 home delivery)
preferred brand name (tier
2) drug up to the per-
prescription maximum
($100 pharmacy, $250 home
delivery)
• 50% of the cost of the non-
prescription maximum ($150
pharmacy, $375 home
delivery)
generic (tier 1) drug up to
the per-prescription
maximum ($25 pharmacy,
$63 home delivery)

prescription maximum
($100 pharmacy, $250 home
delivery)
• 50% of the cost of the non-
prescription maximum ($150
pharmacy, $375 home
delivery)
Annual Out-of-Pocket
Maximum
total amount of deductible
plus coinsurance
for covered in- and out-of-
network
medical and prescription
drug expenses
you may pay in a calendar
year
only
only

Cost $750/month $280/month
Long-Term Disability Insurance
Both spouses have group disability insurance from their
employers.
John: Benefits equal 50% of salary subject to a maximum of
$2,500 per month.
Coverage benefits are limited to 5 years. John’s employer pays
for this
coverage.
Jenny: Benefits equal to 50% of salary subject to a maximum of
$2,000 per month.
Jenny pays a premium for this, and she has a choice to pay with
pre-tax
dollars or after-tax dollars. She currently has the premiums paid
with pre-tax
dollars.
Additional Client Notes
Clients John and Jenny have a nice-size savings account with
around $40,000 and a 401K
through John’s work that has a balance of $265,000. Jenny does

not have a retirement account.
Part B
John and Jenny also want your help in answering questions
about Social Security, Medicare,
Medicaid, and long-term care insurance. Below is information
they have provided for your
analysis.
Demographics
Family Members Age Occupation Health
Jenny 54 Office manager Treated for mild depression.
5'4", 135 pounds. No other health issues.
John 56 Sales manager Treated for high cholesterol.
6'1", 186 pounds. No other health issues.
Emily (Child) 30 Married, lives in
another state far
away
No health issues
Tiffany (Child) 28 Single, attending
a graduate

program in
England
No health issues
Incomes
Income for the past three years and projected current year
income for each spouse is shown
below in Table 1:
Table 1
Family Income
Year John Jenny
2013 $64,000 $0
2014 $67,000 $0
2015 $71,000 $47,000
2016 $74,000 $50,000
Table 1: Income for the past three years and projected current
year income for each spouse
Current Assets/Information

Home valued at $550,000 is almost paid for. Six years
remaining with a balance of $100,000.
John has a 401K with an approximate value of $480,000.
Jenny has a Roth IRA with an approximate value of $25,000.
Joint savings of roughly $50,000.
Both cars are paid for and in reasonable shape. John and Jenny
expect to replace at least one
car in the next 5 years.
John has worked full-time as a sales manager for more than 30
years. Jenny has worked as an
office manager for the last 2 years and did not work previously.
Jenny is uncertain about her
future with her current company and may not work much longer.
She plans to work on some
home improvements around the house should she stop working
and is hoping to spend more
time with some of her hobbies that she has missed over the
years.
John’s expected Social Security benefits are as follows:

Age 62: $1,780/month
Age 66 (full retirement): $2,456
Age 70: $2,914

FIN 355 Final Project Guid

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