Business and Management

Useful Answers To All Your Life Insurance Questions

Many of us ask ourselves whether or not we should take out life insurance and there is only one answer to this question: yes. 

Everyone, no matter what your circumstances are, whether you are single or married, whether you are young or old; everyone should have life insurance cover in place. If you want to explore regarding the index universal life insurance, visit

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Why do I need life insurance?

Whether you are full-time employed, a stay-at-home mom, or own your own business, there is no replacement for your contribution to your family. 

When you pass away, your dependents should be able to be financially secure, which is exactly what life insurance can do for you and them. 

Having life cover in place will give you and all the loved ones in your life peace of mind. 

How do I determine the amount of cover I need?

Ideally, every income provider in the family should have cover to the value of approximately ten times their annual income and the amount of your outstanding bond, for instance, should be added to that. 

Life insurance is sometimes also seen as bond protection insurance and many people take out life insurance to cover large debts so as not to place that burden on their loved ones if they pass away.

Which insurance company should I take out life insurance with?

It is important that you feel confident about and comfortable with the company that handles your life insurance policy and so you need to make sure you're dealing with a reputable company that will still be around in 20 or 30 years. 

As much as competitive pricing should be a consideration in your decision-making process, the financial stability ratings of the insurer should also be taken into account when choosing a life insurance company.