Home : Life insurance - Tips all about insuring life

Life insurance - Tips all about insuring life

Submitted by Richard

insurance_3.jpg
Do you have enough life insurance for your family to live comfortably if you die prematurely?

They will require a large enough lump sum to pay for the funeral and replace a company car, if you drive one.

Ensure there is adequate provision for day to day living. Work out your average annual budget to see how much your family would need. Don't include mortgage payments, as they are probably covered by their own insurance policy.

List all other financial resources your survivors can use, including your current assets - cash, securities, pension, Social Security benefits and so forth - as well as their own income.

Consider taking out a family income benefit policy (which provides a regular tax-free income) if you think a lump sum (term) policy may not be enough.


Ask a question Send in a tip Contact TipKing Books Privacy Disclaimer Feed
© Tipking 2000-2011 All rights reserved Last updated: Jun 7, 2011 - 11:19:51 AM
 
| privacy