It is important to correctly identify your dependants’ financial needs to establish just how much life insurance cover to arrange. A general rule is to choose a policy providing at least ten times your salary, but more may be appropriate, with the amount varying depending on how you intend it to be used. Basically you decide how much you want your dependants to receive in the event of your death, and your premiums will be determined accordingly.
Life insurance is the simplest, most popular and cost effective way to financially protect any dependants in the event of your death. While it won’t help those left behind to get over their loss, the benefit of a lump sum, in most cases tax-free, will guarantee your family is not deprived of funds during an already stressful time.
With the cost of life insurance at an all time low, now is the perfect time to arrange cover. For those in good health, a policy that was taken out six years ago can be replaced today for significantly less, despite the fact that being older, one is in theory at greater risk. Life insurance decadal (also known as assurance decennale in French)premiums vary from person to person, with factors such as age, gender, current and previous health, lifestyle, term required, occupation and smoker status all having an influence.