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unit 2 topic 6, ◆ the ability to access insurance. - Coggle Diagram
unit 2 topic 6
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money cannot afford to lose any of it; losing £5,000 might mean losing all they
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large return. Losing £500,000 might not mean much to them.
◆ The stage of the life cycle they are in. Other things being equal, younger people
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These plans can be achieved after a few years, for instance someone saving up for a
. In order to make an informed choice, a person should look carefully
at their wants and aspirations, at their position on the risk / reward spectrum and at
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Saving and investing –
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◆ whether there is a legal or operational obligation to insure the risk – for example,
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and paying back a mortgage, and saving for retirement.
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product: in other words, they need to think carefully about their wants and
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If the level of economic activity in the country slows down, or if the country becomes
less competitive in export markets, there is less demand for goods to be produced
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house prices are a key indicator of the state of an economy. In a growing economy, there
. Alternatively, it
might be a monthly or even weekly plan
The products chosen by any individual depend partly on their risk profile. This in
turn depends partly on their personality, their financial situation and their age –
Some people invest in stocks and shares as part of their portfolio, and changes in
the prices of these financial assets will affect their financial position and their plans
A fall in property prices also affects people who look on their property as an asset in
their pension portfolio and it reduces their retirement savings.
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