Insurance is a hedge against the occurrence of unforeseen incidents. Insurance products help you in not only mitigating risks but also helps you by providing a financial cushion against adverse financial burdens suffered.

Underwriting of a risk involves consideration of material facts on the basis of which a decision will be taken whether to accept the risk and if so at what rate of premium.

A simple way to answer this is by asking: “Do I have anyone dependent on my salary to sustain their standard of living?” In other words, if you were to pass, would those still alive have issues covering the cost of your burial? Covering rent or mortgage payments and other bills? What about any remaining medical costs? Would they have enough money to cover those and still maintain their normal life? If the answer to any of these is “No, they wouldn’t,” then you should consider what life insurance options work best for you and your needs. 

• Decide how much coverage you need, for how long, and what you can afford to pay.
• Learn what kinds of policies will provide what you need and pick the one that is best for you. Visit our page for more details.
• Do not buy life insurance unless you intend to stick with your plan. It may be very costly if you quit during the early years of the policy.
• Be sure to review your contract and understand exactly what is or isn’t covered.