Dilzer Consultants - Investments and Financial Planning

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Life Insurance

We protect your investments_ Insurance

Life insurance ought to be an integral component of your financial plan. The primary aim of life insurance is to ensure that your loved ones do not find themselves in dire straits on your death. The last thing they need in what will be an emotionally traumatic time is to deal with a legacy of a financial burden.

When planning for your retirement, you should try and ensure that your spouse and family can maintain the lifestyle they have been used to. A good life insurance plan is one that provides for your family’s short- and long-term financial needs.

Insurance when you’re young

Your need for insurance is greatest when you have just embarked on your career, have young children and few assets to call your own. While chalking out an insurance plan, you need to consider a number of factors, such as your current income and the educational needs of your children. Take a hard look at the expected financial needs of your survivors. And don’t forget to factor in the impact of inflation on their long-term needs.

The financial factors in your life could be:

  • Family income
  • Debts to pay off
  • Cost of educating children
  • Emergency funds
  • Estate settlement and administrative costs
  • Retirement needs of your spouse/survivors

when you’re older

When you are older and close to retirement, your life insurance needs diminish a great deal. Your children have found their ways in the world, your financial status is much more comfortable than when you were 32, and you’ve accomplished much of what you wanted to. The only person you possibly have to worry about is your spouse. All you have to ensure is that he or she leads a comfortable life after you are gone — your insurance cover should see your spouse through the final years.

Cover beyond that amount is unnecessary, unless it’s important to you that you’re remembered fondly by grateful, and newly rich, heirs.

For more details on various insurance plans, please visit http://www.iciciprulife.com/public/Life-plans/Plans.htm

All the above questions can be answered by a trust worthy and competent financial planner.

For more details contact us