Consider your own personal situation. Let’s say that you have been considering investing in life insurance (for the purposes of this assignment, you currently do not have life insurance). You have narrowed your choices to the following:
- Term life insurance
- Whole life insurance
- Universal life insurance
After researching these options further, you have determined that you have enough disposable income to select one of these options. At this point, complete the following:
- Use the decision-making model process from Chapter 7 to make your decision.
- Provide a summary of why you selected this option, as opposed to the other options (ensure you address the concept of risk in your summary).
Use the decision-making model process from Chapter 7 (page. 164 and 165) to make your decision:
- Recognize and define the problem or opportunity
- Identify and develop options
- Analyze the options
- Select the best option
- Implement the decision
- Monitor the results
- Your post should be at least 500 words in length.
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