Life insurance is a wide subset of insurance policy cover and it is almost complicated to understand. When considering life insurance policy cover, you need to understand how to calculate the right cover to protect your family in case of your demise. Just like auto insurance or car insurance, life insurance has various types and forms you need to understand. We help you compare various policies and make informed decisions about the same.
This type of life insurance lasts only for a set number of years in which it pays out when you die during that specific term. It is a simple and much affordable service that is suitable for people with dependants and a mortgage on their back.
A type of mortgage designed to help settle your mortgage balance where the outstanding decreases over time. It lasts for a set number of years and pays out on your demise. It typically covers mortgage balance and it is suitable for individuals with a repayment mortgage whose dependants have the ability to manage other expenses on their own.
This type of insurance is good for individuals whose dependents may suffer financially if the breadwinner dies. It pays out on a regular basis for all the remaining terms and it is affordable too.
This involves a policy that covers you for the rest of your life and dependents get payout no matter when you die if you keep up with your premiums. It is usually the most expensive but good for people with large property values planning for inheritance
We help you understand how to calculate the amount of insurance you need to protect your family in case of your demise. Just like auto insurance or car insurance, everyone needs to understand how much life insurance cover needed. The following steps should get you started:
Make a summation of mortgages and credit card debts and include them to the total expenses you wish to cover such as educational fees and monthly expenditure
Check out for other covers you may have such as auto insurance or car insurance with benefits packages which may include death in service payouts.
Subtract the benefits you have from your total amount required by your dependents that gives you an amount your cover should take out. A common thumb rule involves multiplying your annual income by 20.
We have great experience in helping you have an easy time selecting the best auto insurance or life insurance policy. We assist may clients get cheap auto insurance and life insurance quotes among others. We also provide comparison services to help you figure out the best rates in the market from top insurance providers. Contact us for the most effective insurance policy quotes today.
Auto insurance is a contract between the customer and the insurance company.
A house can be considered as an asset. An asset needs to be safeguarded
Many types of insurance policies are out there for you to pick up the required one