| Course | FIN 350 Advanced Personal Financial Planning |
|---|---|
| Module | Module 8 |
| Paper type | undergraduate discussion post on risk management and estate planning |
| Length | About 340 words, 3 pages |
| Format | APA 7 student paper |
| School | Southern New Hampshire University |
| Program | BS Finance |
| Updated | October 2026 |
Free sample paper for FIN 350 Module 8
Module Eight Discussion
The Gaps That Could Undo the Kesslers' Plan
The composite Kesslers' plan was nearly finished before we looked hard at what could undo it. Dario, 41, owns the heating and cooling company that pays a large part of the family's bills and employs twelve people. He had a $250,000 term policy from when their daughter was born and no disability coverage. Neither spouse had a will, and the company had no plan for who would run it if he could not.
The needs approach adds what the family would need if Dario died: about $70,000 a year of his after-tax contribution for 20 years, worth roughly $1.04 million at a 3 percent real rate, plus about $47,000 of debts, $180,000 toward college and $20,000 for final costs, minus liquid savings. That is about $1.25 million, five times his coverage. Bernheim et al. (2003) found that life insurance holdings are only weakly related to how much a household would actually lose, leaving many families badly underinsured.
At Dario's age, a disability lasting months or years is far more likely than death, and a disabled owner still has a mortgage, children and a payroll. An individual policy paying around 60 percent of his earnings if he cannot work, plus coverage for business overhead, matters as much as the life policy.
Without wills, Nebraska law would divide their probate assets and a court would choose a guardian for Mia and Leo. A will names the guardian they trust. Beneficiary forms on retirement accounts and policies pass outside the will, so they must be checked too. Families also tend to file insurance and wills in a separate mental box from saving and investing (Thaler, 1999), so they feel finished once the investment plan is set, even though protection decides whether that plan survives. Madrian and Shea (2001) showed how strongly inaction shapes financial outcomes; estate documents are a clear case where doing nothing is itself a decision.
Why do you think families who carefully plan for college and retirement still put off wills and disability insurance?
References
Bernheim, B. D., Forni, L., Gokhale, J., & Kotlikoff, L. J. (2003). The mismatch between life insurance holdings and financial vulnerabilities: Evidence from the Health and Retirement Study. American Economic Review, 93(1), 354-365. https://doi.org/10.1257/000282803321455340
Madrian, B. C., & Shea, D. F. (2001). The power of suggestion: Inertia in 401(k) participation and savings behavior. The Quarterly Journal of Economics, 116(4), 1149-1187. https://doi.org/10.1162/003355301753265543
Thaler, R. H. (1999). Mental accounting matters. Journal of Behavioral Decision Making, 12(3), 183-206. https://doi.org/10.1002/(SICI)1099-0771(199909)12:3<183::AID-BDM318>3.0.CO;2-F
What the FIN 350 Module 8 instructions ask for
The last FIN 350 discussion commonly turns to risk management and estate planning: how insurance protects a financial plan and why documents such as wills, powers of attorney and beneficiary designations matter. Prompts may ask you to evaluate a client's coverage, explain how much life insurance a family needs, compare term and permanent insurance or discuss why people avoid estate planning. A few also invite a look back over the whole course. A strong post identifies specific gaps for a specific household, uses a recognized method to size them, explains the consequences of leaving them open and closes by turning the issue toward classmates' own households.
How this FIN 350 Module 8 discussion example is built
Using the composite Kesslers, the sample identifies three gaps. Dario, who owns the family's heating and cooling business, has $250,000 of life insurance against a need of about $1.25 million by the needs approach and no disability coverage at all. The couple has no wills, so a court would choose a guardian for their children. And the business has no succession plan. The post explains that a long disability during working years is more likely than early death, describes what wills and guardianship designations do, and cites research finding many households hold life insurance poorly matched to their vulnerability. It asks classmates why people put off these decisions. It keeps the tone practical rather than alarming.
Where the FIN 350 Module 8 rubric puts the points
Rubrics for this closing discussion usually weigh understanding of insurance and estate concepts, application to a client, accuracy, use of sources and engagement with peers. Better posts use a method to size coverage, distinguish life from disability risk and explain the practical effect of having no will. Posts lose points for general advice to buy insurance without a reason or amount, for errors about how wills, beneficiary designations and guardianship work and for ignoring the client's business. Replies that test a classmate's estimate or raise a missing document earn credit. Instructors also tend to reward a post that admits the cost of coverage and weighs it against the family's budget.
FIN 350 Module 8 help: the mistakes that cost points
Insurance and estate posts often stay too general. Choose a family, find the gap and size it: how much income would be lost, for how long, and what debts and goals must be covered. Explain why disability matters, since many students discuss only life insurance. Be accurate about estate basics: a will names guardians and directs probate assets, while beneficiary designations control retirement accounts and life insurance directly. Mention business continuity if the client owns a company. Avoid product sales language. In replies, ask a classmate whether their client's employer coverage would survive a job change, a common hidden gap. A single dollar figure for each gap makes the post far more persuasive than adjectives.
Get FIN 350 Module 8 written to your instructions
Post the FIN 350 Module 8 discussion prompt and your client's details. We find the insurance and estate gaps, size them with a simple method and close by asking why people delay these steps. Expect a reply within 48 hours, with your opening post free. The paper above is an original model document written by our desk, not a submitted student paper and not an official Southern New Hampshire University document.
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FIN 350 Module 8 questions, answered
Where can I find a free FIN 350 Module 8 Discussion sample?
The complete FIN 350 Module 8 post is here: the life, disability and estate gaps in a family plan, sized and explained, with a question about why people postpone them.
How is life insurance need calculated with the needs approach?
Add the income the family would need replaced for a set number of years, outstanding debts, funded goals such as college and final expenses, then subtract existing coverage and savings.
Why is disability insurance important?
During working years, the chance of a long disability is higher than the chance of death, and a disabled worker still has living costs.
What happens if parents die without a will?
State law decides how assets are divided and a court appoints a guardian for minor children, which may not match the parents' wishes.
Is employer life insurance enough?
Often not. Group coverage is usually limited to one or two times salary and typically ends when the employee leaves the job.