Types of Life Insurance
Do I need Life Insurance?
How much Life Insurance do I need?
How do I purchase?
Life Insurance
Do I need life insurance?
Your personal situation will determine whether or not you need life insurance. If you have no dependents or do not generate a large proportion of your family’s overall income, you probably will not need to consider life insurance.
If your salary is important to your family’s financial future and the payment of education fees, mortgage and general bills then life insurance is important to ensure that these financial obligations continue to be met in the event of your death.
What type of policy should you buy?
Many insurance specialists recommend that those under the age of 50 and don't have a family history of life threatening illnesses should arrange term insurance which offers benefits in the event of your death but no cash or surrender value. On the other hand, whole life insurance offers both a death benefit and cash value, but costs more.
Alliance can help you decide on the best plan for you by providing a free financial consultation and a comparison of the best insurance policies available.
