Moneyhive Investments Services - Insurance Planning

“Death shouldn’t be debt”

You've worked hard to build a solid financial footing for you and your family, so you want to be sure that everything is protected. Accidents and disasters can and do happen, and if you aren’t adequately insured, it could leave you and your family in financial emergencies . You need insurance to protect your life, your ability to earn income, and to keep a roof over your head.

You protect yourself and your asset by having insurance. You score over life’s future needs by investing your money. You can’t ignore one for the other. One of the basics of personal finance is to have adequate insurance coverage.

The real benefit of insurance is to reduce the financial risk and give you the support you need when the unexpected happens. Live life knowing you’ve helped protect your loved ones financially.

It's not really about how much life insurance you need. It's how much money your family will need when you are no more.

We’re here to help you make important decisions about insurance planning to protect your loved ones.

The right level of coverage

When buying a life insurance policy, it's important to choose the right amount of coverage. You don't want too much, paying for protection you don't need. Nor do you want to have too little, leaving your loved ones under-protected.

There are two common methods for calculating the amount of life insurance coverage you should carry.

1) The lumpsum need method – Calculates the amount needed to pay for outstanding debts, household needs, children education and marriage cost, emergency needs.

2) Income replacement method – 2) calculates the amount needed to replace a percentage of your income for a specific number of years, usually until your youngest child is out of college or until your mortgage is paid off.