Life insurance: protect your loved ones at all times

03 July 2013 - James Larkin

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Life insurance: protect your loved ones at all times

If the unthinkable happens what happens to your family?   If you are the main earner of the family it means that in the event of your unexpected death, your loved ones will probably experience financial hardship in addition to the pain and grief.   Especially if you have children in education, their entire future could be at risk if you have not protected them with life insurance.

What exactly does life insurance protect?

If the insured person suddenly dies, people who rely on you financially will receive an income and can be covered also for any outstanding debts which one might have left behind.    Even funeral costs can be included in the policy.

Insurance sum

The level of one's life insurance policy depends on one's family's needs on the one hand, and on the other hand one has to plan how much one can afford oneself.   The main consideration, though, is that the income for all the surviving members of one's family is high enough to guarantee the standard of living to which they are used.   It should cover for everything they need, including higher education for one's children.

How much does life insurance cost?

The costs for life insurance depend on how old the insured person is and also on the state of health, and last but not least on how much money has to be paid out once you have died.



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