Life Insurance Needs

To calculate her life insurance needs heather would add her obligations. Then consider what type of life insurance policy you need this could be a term life insurance whole life insurance or an investment linked policy. People s situations change over time resulting in changes in their life insurance needs.

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Typically dependents are children who still live at home or have yet to graduate from college.

Life insurance needs - But a dependent could be anyone who is financially dependent on you like a spouse sibling or an aging parent. The general rule is that you only need life insurance if you have dependents. Let s say you ll need rm500 000 but you only have rm200 000 worth of assets.

Life insurance is a key financial planning tool. This leaves you with a rm300 000 gap which you can close with life insurance coverage. When periodically reviewing financial and estate plans.

1 2 million for income replacement 75 000 times 16 the number of years before her youngest child graduates from high. Not everyone needs life insurance. Life insurance can fill a wide variety of needs including covering the finite years of a mortgage and protecting the interests of a special needs child who will need financial support after you.