Calculate Your Life Insurance Needs
- Know your Family Income and Expenses – Earning – Expenses
- Know your Family’s one time needs – Child’s Wedding + Education, home Loan + Other expense
- Know your current assets – Cash + Savings + Investments + Existing Life Insurance
Your Calculation = Total Requirements (1 +2) – Existing Assets (3) = Insurance needed.
Reasons you need to increase insurance cover
- Your parents retire
- You get married
- You become parents
- You take a big loan
- You start a business
Circumstances when you don’t need insurance
- You don’t have dependents
- You have enough assets
- Your spouse earns well
- You have retired
0 comments:
Post a Comment