People that invest their savings for the long term, demonstrate confidence in the state and its economic stability. Thus, social policy with no developed long-term life insurance loses not only stability but also to some extent excludes the population from solving problems associated with long-term investments. Having a life insurance policy, a person is not only to a certain extent independent of the state social policy but also in some way is involved in its implementation by providing funds for investment use.
The guaranteed amount is the amount payable to the family in the event of the policyholder’s death. Insurers recommend reconsidering the coverage size at different stages of life. The review may reveal that what has been considered an adequate amount 10 years ago is clearly insufficient today to protect the financial needs of a family.
It is necessary to analyze and assess the financial obligations arising in the form of loans, as well as evaluate the financial needs of your spouse and children until they become financially independent.
Photos are from open sources.
