Life Insurance

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Does that Cover it? Figure out how much Cover you need

Figuring out how much cover you need is straight forward provided you have all the facts. It is simply a question of knowing what income your dependents will need, what cover you currently have , and then doing the calculation to decide how much additional cover you require and can afford. First, figure out what your debts are. What is the balance on your mortgage? How about your credit card? Do you have any personal loans or other outstanding obligations? Additionally, consider the cost of your own funeral and any other expenses that may arise upon your death.

Demystifying Life Insurance Premiums

Every life insurance policy comes with a premium. The amount will often seem mysterious, but if you look at the way premiums are calculated, you will understand exactly what you are paying for. Fundamentally, you are paying a premium so that in the event of your death the Life Company will pay to your dependents the amount you are insured for. They will assess the risk of you dying and the amount they will have to pay out and will set your premium accordingly. It is as blunt as that. 

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