Tuesday, 5 July 2016

Is Life Insurance Really Important?

While many people do not like the topic of general insurance, life insurance tends to put them off on a whole new different scale. As much as death is inevitable, many of us have refused to accept the fact that it will surely come. So help better explain this avoidable subject, we decided to do an interview with some of Greater National Group’s insurance experts. Here are some of the questions they provided answers for.

Who Needs and Does Not Need Life Insurance?
Anyone with a dependent is an ideal candidate for life insurance. By dependents we mean spouses, children, and sometimes elderly parents. Young and single individuals do not necessarily need life insurance because they have no dependents – someone to care for.

How Can Someone Know the Exact Type of Life Insurance to Purchase?
The truth is that temporary insurance is able to meet most people’s needs. The premium is less expensive than permanent life insurance. Just like a commodity, it can be bought form a very wide range of top rated insurers. Unlike permanent life insurance, it is relatively easy to understand.

How Can Someone Know the Amount of Coverage they need?

With life insurance, the primary focus is your dependents. So the amount of income they will need when you are no longer able to support them should be the determining factor.

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