Documents

PLANNING OF LIFE INSURANCE

Description
Description:
Categories
Published
of 12
All materials on our website are shared by users. If you have any questions about copyright issues, please report us to resolve them. We are always happy to assist you.
Share
Transcript
  FINANCIAL PLANNING WITH   LIFE INSURANCE By-Siddhant Srivastava  ã  What is Life Insurance and when should we get it?  –  A means for protecting the financial security of those that depend on us for their safety and economic well being.  – The best time to get it is when you are young and healthy.  – You should have some by the time you marry or partner.  – You are foolish not to have it when you start a family and acquire property (cars, home, investments, etc.) LIFE INSURANCE 2  ã Major Purposes of Life Insurance  – Pay off mortgage or other debts at time of death  – Provide lump sum payments or endowments to beneficiaries  – Provide education or income to children  – Make charitable donations  – Provide retirement income (whole life / endowment policies)  – Estate Planning (paying estate or gift taxes) LIFE INSURANCE 3  ã How Much Life Insurance Do You Need?  – The answer depends on your personal life situation ã A young single person – not much ã An older person with family responsibilities – depends  – Number of dependents  – Magnitude of financial liabilities (mortgages, loans, etc.)  – Magnitude of income  – Social Security survivor benefit  – Example #1: Family (spouse, children, household expenses) ã 7 times 70% of yearly income ã More if dependents are under 7 years of age.  – Example #2: Dual Incomes no Kids (DINKs) ã Enough to cover debts ã Provide a financial cushion LIFE INSURANCE 4
We Need Your Support
Thank you for visiting our website and your interest in our free products and services. We are nonprofit website to share and download documents. To the running of this website, we need your help to support us.

Thanks to everyone for your continued support.

No, Thanks
SAVE OUR EARTH

We need your sign to support Project to invent "SMART AND CONTROLLABLE REFLECTIVE BALLOONS" to cover the Sun and Save Our Earth.

More details...

Sign Now!

We are very appreciated for your Prompt Action!

x