Before You Ask How Much You Need, Ask Whether You Need Life Insurance At All



how much life insurance do I needhow much coverage is required

If you are single at a mature age and you have no legitimate dependents, then yes, it makes no financial sense to purchase life cover. But if you are a sole or co-breadwinner, say, of a family of five (mother, father, and three siblings) then it becomes your moral responsibility to provide for them in the event of your unforeseen, untimely and/or premature death. As late as the twenty first century, there are still men and women committing themselves to marriage at a young age.

That is admirable in this day and age and, as it turns out, is quite fortuitous, because by the time their life insurance policy reaches its maturity value, perhaps even while they are still alive and healthy, they can still reap the benefits from it. In endeavoring to find answers to the enduring question; just how much life insurance do I need, consumers of all ages and all walks of life need to look a little more closely at just what type of life insurance coverage they need.

For instance, the single policy holder may not require cover to compensate survivors but he may well need cover for himself in the event that he is unexpectedly retrenched or no longer able to work due to a debilitating injury or life-threatening illness. Down the line, he can then proceed towards finding the most appropriate life insurance service provider that is able to match his requirements.

To reiterate, typical questions to ask entail; is life insurance needed, what form should it take, if needed, and how much coverage is required as a result. The big question still to be considered is that of present financial circumstances and how much the questioner can afford to pay.