The purchase of life insurance cover is perhaps one of the most important financial decisions you’ll ever have to make.
Most people put this important purchase off until something happens close to home, often when it’s too late. Why? As individuals we all have a built-in mechanism that prevents us from thinking about death yet this procrastination can have devastating consequences for those you leave behind – families can suffer and businesses can fail.
Do I Need Life Insurance?
To answer this question, you need to consider whether someone in your life will suffer financially if you die and if someone other than yourself is reliant upon your income. If so, then you definitely need life insurance.
Most commonly those who would suffer financially following your death include family, children or ageing parents. Yet business partners or employees may also feel the added financial burden. Whilst you may think, ‘Well, they’ll be ok’, the reality can often be very different.
How Much Do I Need?
To accurately determine how much you need the best way is to perform a financial-needs analysis (see below).
The use of life insurance can ensure families stay financially secure and businesses can continue to operate. A well-designed life insurance package is as essential to a sound financial plan as a strong foundation is to a family home. Do it right and the future is secure.
For more information
To understand your life insurance requirements, visit the following online surveyhttps://www.surveymonkey.com/s/areyouprotectedor feel free to contact me for more information.