While none of us likes to think of the worst happening, the truth of the matter is that nothing is certain in life apart from the fact that we do all one day die. While it isnt something that is a nice thought, it happens and at the very least we should realise this and ask ourselves, how would our loved ones cope? Not only this, we also have to take into account the fact of a debilitating condition.
Among some of the factors that you have to take into account when it comes to deciding how much you would need to give your family enough financial support to carry on is of course how much the monthly mortgage and essential bills would add up to.
While the life insurance will pay out if the worse comes to the worse you should give some consideration to how you would manage if you were ill and recuperating. In a recent study on cancer alone, it came out that more than 1 in 3 people will be diagnosed with it, a frightening thought, but true.
With this in mind it is important to decide on the type of insurance that you need. One consideration is term assurance. Term assurance means that you could get paid a lump sum of money for a fixed period of time if you...
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