Assessing Your Life Insurance Needs
Many of us may wonder if there is a need to review our coverage every now and then Every individual goes through various stages in their lives – be it purchasing a home, getting married, or having a baby. As circumstances evolve, one’s need for protection changes, and it thus becomes more important to review one’s existing insurance coverage. To put it simply, adequate insurance coverage helps you protect your nearest and dearest. In case something happens to you, your insurance payout will render some financial support when you are financially weak or unable to provide for them. Most of the time, we actually do understand that we need to be covered. However, what is pulling us back from meeting our shortfall is the complexity of products in the market. The 2 most common types of coverage for life insurance are term and whole life plans. Those who are interested in having an investment aspect can look into investment-linked plans. source