How Insurance Works

How much Life insurance do I need? –

life insurance is designed to protect
your family from financial difficulties in the event of your death why do I need life insurance if you have people who depend on your
income and will be at a financial loss if you died it is a good idea to have life insurance a lump sum payout from your life insurance
policy could be used to pay off the mortgage on
the family home insuring your loved ones want need to move at this distressing time if you have children you may wish to provide an inheritance for their future education costs or leave your spouse finances to arrange a funeral how much do I need how much life insurance you need depends
on your individual circumstances consider how much you have remaining on your mortgage payments any debts that you might have such as credit cards or loans what your love ones living expenses
amount to and what kind of funeral you might like with these considerations you should have a cover amount in mind how much does it cost when you choose the cover amount required for your life insurance policy you should make sure that you can afford the monthly repayments generally the higher the cover amount
the higher the monthly repayments what circumstances affect cover your general health status will be considered
when you apply for a life insurance policy your smoking history any pre-existing medical
conditions and your age also factors that could
affect the level of cover you’re offered

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