What Is Life Insurance
Life insurance aims to provide a lump sum payment to your family in the event of the death of the life insured.
How Much Do I Need?
The amount of cover you need varies from person to person, as everyone’s situation is different, we can help you tailor your cover to suit your individual needs.
When you need to start considering the amount of cover you require a good starting point is to work out the values of all your current liabilities and use this as a minimum starting point.
To determine the real amount of cover you will need, you should take into consideration, possible education expenses for children, funeral expenses, home mortgage, and any other major expenses that may arise, as well as allowing enough extra funds to allow your beneficiary to create an income stream or seek outside help if needed. This last point is very important as it can become difficult for your loved ones to continue to life their normal lives if they’ve potentially lost their main income stream.
How Much Does Life Insurance Cost?
It is impossible to gauge exactly how much life insurance will cost you as
there are many variables that effect the premium.
The main items that effect your premium are;
- The amount of cover