Scroll down for Video
Thanks again for listening. This is one that I felt needed to be addressed. Realistically speaking and in my view, enough life cover is ‘enough to support your dependents by replacing the lost income in the family over a correct period of time and to cater for any final expenses and debts after the death of a loved one’.
So to answer the question, it is very specific to the person being covered, their family, needs and circumstances. I’ve done a short video on how to calculate life cover. It’s just a guide and may not be suitable to all but it’s something for you to go by.
On this point, a huge factor is also cost. To be honest, the best life cover policy to have, is the one that pays out the benefits when your family needs it to. There is no point in taking out a huge life cover policy with great additional benefits and then have you not afford to pay for it.
So to go a bit further on my description, I should probably add, ‘is affordable’ to that as well. But the key here is to never sacrifice cost for coverage. If Life Assurance is a true priority of yours then for sure I think you need to sit down and say, ‘Yes, I and my family need this and I am prepared to pay this policy.
Anyway, I hope you like my video. Feel free to get in touch for a quote or for some information on cover.
See you all soon again!