Alice and Carol walking on the road ..
Carol asked Alice - where does this road go?
Alice said - where do you want to go?
Carol Said - I don’t know!
Alice Said - Then how does it matters where the road goes.

Before buying a Life Insurance Policy it is always important to find out why do I want to buy Insurance and for what purpose. How much Life Insurance Cover do I need comes second.

There are certain factors which should be considered before buying an Life Insurance Policy.

Your age and number of dependents.
Your Annual Income and Annual Expenses.
Your outstanding Liabilities like Home Loan, Car Loan etc.
Your Investments and Savings.
Your Life Style Expenses.
Monies you would require in Future.

As a rule of thumb when you are buying your first Life Insurance Policy it is suggested that you should have a Insurance Cover of at least 6 to 8 times of your annual income.

There are many different scientific methods available to access the total Life Insurance Cover. The need for Insurance changes and increases with age depending on the combination of factors stated above. It is advised that one should review his Insurance needs every 3 years. Every individual is different and his needs are different and one set of rules for Insurance cannot be applied to all. A good Financial Planner or Advisor in your neighborhood should help you ascertain your appropriate Insurance Cover.

Life Insurance is a very important and integral part of Financial Planning for the Future.

Have a Financial Goal and Make a Financial Plan to reach your Goal, Insurance products can help you achieve your financial goal. Review your Financial Plan once in a year and assess you Insurance needs.