How much insurance coverage needed for you depends on what is the need of money for your family members in the absence of your to survive for the entire life. This is the basic reason for taking the insurance. You want your family members to have financial comfort when things goes wrong with you. You shall try to calculate the future need of your family members like education, marriages and major expenditures.
The insurance money shall cover the needs like
1. Monthly income to your family members for their regular expenditures.
2. Money needed to pay for all the commitments made like housing loans and other debts.
3. Need to cover big spending needs like marriage and education.
4.Need to cover emergencies like health issues.
May you need to go for a term insurance policy rather a regular endowment policy. It is because you need to get good amount for less premium. Term insurance is rightly suitable to this. You need not worry about the thought that you are not going to get back the money when no bad incident happens. for a very high coverage you may need to pay a money that is less than FIVE Percent and get your needs satisfied.This will give you a peace of mind and you can plan about other investments for the future needs. You shall not mix up insurance and investments.
With the remaining money after paying the term policy, you can use the remaining money in a proper way to get wonderful returns over the long term. Tools like standard stocks and good mutual funds can help you in this aspect.
How much cover is needed depends on the life style and regular needs of the family members. If you have some investments and assets they can help your family members to serve. You can remove your insurance needs from this amount. Thus you shall count your coverage basing on money needed and you shall subtract the investments made for the future.
You shall plan for your family members needs not only through insurance but also by other means. Getting the all the money needs of future via insurance is a silly thought. Real estate investment on the developing locality or outskirts of your city can give them good return over the long term. Bonds,stocks and mutual funds can help you to fulfill your dreams.
ALL THE BEST.
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Insurance for life as a investment
The insurance money shall cover the needs like
1. Monthly income to your family members for their regular expenditures.
2. Money needed to pay for all the commitments made like housing loans and other debts.
3. Need to cover big spending needs like marriage and education.
4.Need to cover emergencies like health issues.
May you need to go for a term insurance policy rather a regular endowment policy. It is because you need to get good amount for less premium. Term insurance is rightly suitable to this. You need not worry about the thought that you are not going to get back the money when no bad incident happens. for a very high coverage you may need to pay a money that is less than FIVE Percent and get your needs satisfied.This will give you a peace of mind and you can plan about other investments for the future needs. You shall not mix up insurance and investments.
With the remaining money after paying the term policy, you can use the remaining money in a proper way to get wonderful returns over the long term. Tools like standard stocks and good mutual funds can help you in this aspect.
How much cover is needed depends on the life style and regular needs of the family members. If you have some investments and assets they can help your family members to serve. You can remove your insurance needs from this amount. Thus you shall count your coverage basing on money needed and you shall subtract the investments made for the future.
You shall plan for your family members needs not only through insurance but also by other means. Getting the all the money needs of future via insurance is a silly thought. Real estate investment on the developing locality or outskirts of your city can give them good return over the long term. Bonds,stocks and mutual funds can help you to fulfill your dreams.
ALL THE BEST.
Related Post
Employment Insurance for you
Different Life Insurance options for old people
Life Insurance and Investment Strategies
Insurance for life as a investment
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