FAQs

Life Insurance

10 Jan 2019

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Insurance experts suggest to opt for a sum assured that is 10-15 times your annual earnings. You must take inflation, loans, debts, child’s education and other factors into accounts. The objective of a life insurance is to provide financial security to your family following your death. These questions will help you to figure out, so answer these questions to draw the conclusion about how much cover will be sufficient:
-Are you the sole
earner of the family or contribute to meet the financial needs?
-How many family members are depended on you for their financial needs?
-Do you have children? If yes, how much money they might need to complete their education? -Whether you are the sole breadwinner or contribute a portion if you were to die, how would it impact your family financially?
-Does your parent, grandparent, brother or sister, or anyone else depend on you for their financial needs?
-Do you have any home loan or any other debts that your family will repay if you die? -Do you wish to leave money for family members and kids?
-As per your current lifestyle, how much your family needs to sustain? Also, take inflation into account.

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