Life Insurance

To ensure your family or dependents’ good lifestyle even after you are long gone, every individual should consider upon taking life insurance. But the costs of such a policy might be high depending on the coverage.

Variable annuities can be a great supplement for a retirement program. These are insurance contracts that aim to add-on to a retirement program. This acts as a medium for long-term savings and hence an efficient source of retirement income. Your money is invested in a separate account when you buy variable annuity. This account is made up of equity and/or fixed income funds and the value of the annuity that is finally received depends on how the fund performed.

Life insurance policies are intrinsically different from other policies. Insurance companies are completely aware that death in inevitable and will occur at some point or the other. These companies design their policies with full knowledge of the fact that the money will finally go to the insured’s beneficiary at some point of time unknown to everyone. Individuals who are HIV positive don’t necessarily have AIDS. Many individuals who are HIV positive lead a normal healthy life for many years. However, life insurance and HIV were two terms that did not go together.

Who needs life insurance? Are you the bread earner of your family? So, are you 100% sure that your family will be financially strong even in the unfortunate event of your death? Definitely no one is quite comfortable thinking about his own death, but the truth is it is inevitable. The best we can do is securing the lives of those whom we love.

If you have mortgaged your home, you obviously do not want to lose it and would like to pay for it by all means. Mortgage life insurance simply helps you to pay off your mortgage in the event of your death during the time when your mortgage is not fully paid. Your house is a big investment and protecting your family and home is really very important for you. So if your home is mortgaged and in the unfortunate event of your death, the mortgage still needs to be paid if it has not been paid fully.

The best person to decide whether you need life insurance is you. Life insurance is investment that you make now to secure the future of your family members who are dependent on you. Here are 6 easy steps to help you shop better for a life insurance policy

1. Assess your needs: Do you have dependents? If you do then investing in life insurance is a sensible idea. This will help you save a considerable amount of money for your family members who are dependent on your income. The earlier you decide to get life insurance the better for you.

There is no ‘thumb rule’ in determining the amount of life insurance one needs. There are several factors that help determine the right amount of insurance that one needs. The basic fact is that if one has people depending on his/her income, he/she needs to buy enough life insurance to be able to support the dependents in his/her absence.