How Much Life Insurance Do I Need? | Financial Planning Process | Dr Sanjay Tolani | Jabar Post Indonesia/a> – This time JabarPost.Net will discuss about Life Insurance.
The following is How Much Life Insurance Do I Need? | Financial Planning Process | Dr Sanjay Tolani. And for those of you who want to find a similar explanation, you can search in the Insurance category
How Much Life Insurance Do I Need? | Financial Planning Process | Dr Sanjay Tolani | Jabar Post Indonesia
Life insurance (or life assurance, especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money (the benefit) in exchange for a premium, upon the death of an insured person (often the policy holder). Depending on the contract, other events such as terminal illness or critical illness can also trigger payment. The policy holder typically pays a premium, either regularly or as one lump sum. Other expenses, such as funeral expenses, can also be included in the benefits.
Life policies are legal contracts and the terms of the contract describe the limitations of the insured events. Specific exclusions are often written into the contract to limit the liability of the insurer; common examples are claims relating to suicide, fraud, war, riot, and civil commotion.
Modern life insurance bears some similarity to the asset management industry and life insurers have diversified their products into retirement products such as annuities.
Life-based contracts tend to fall into two major categories:
Protection policies: designed to provide a benefit, typically a lump sum payment, in the event of a specified occurrence. A common form—more common in years past—of a protection policy design is term insurance.
Investment policies: the main objective of these policies is to facilitate the growth of capital by regular or single premiums. Common forms (in the U.S.) are whole life, universal life, and variable life policies.
👉 Are you part of The Sanjay Mentoring? Join here : http://bit.ly/2KUXBnq
How Much Life Insurance Do I Need? 🤔
Now, that’s an epic question because it’s one of the most fundamental thing that should be taught even in school, but unfortunately they don’t.
So why don’t I tell you this?!
There’s a very simple rule of thumb that’s been used for a very very long time which is 10 TIMES off your ANNUAL INCOME. So, whatever is your annual income, multiply that by 10 and that’s the amount of life insurance that a person should have.
Now. Is that the correct answer? Watch till the end to find it out!
If you like this video, HIT the thumbs up and SUBSCRIBE to the channel so that I can SHARE MORE data with YOU on Financial Planning. See you in the next video! 👐
⭐ Follow Dr. Sanjay Tolani ⭐
Facebook – http://facebook.com/sanjay.financiala…
Instagram – http://instagram.com/srtolani/
LinkedIn – http://linkedin.com/in/sanjaytolani/
🎖 Who is Dr Sanjay Tolani? 🎖
Dr. Sanjay Tolani, became the “youngest member” at the age of 19 and the “youngest life member” at the Age of 28 to the Million Dollar Round Table (MDRT). He also has 13 Top of the Table Qualifications (TOT), which is considered the pinnacle of the financial services profession. To top things off, he is also the youngest Managing Director of an insurance brokerage in the Middle East.
📕 Get A Copy Of Dr. Sanjay’s Tolani Book 📕
28 000 Book: https://bit.ly/2PWHGGg
Concept Presentation Playbook: http://bit.ly/2IGHzNc
The Objection Playbook: https://bit.ly/2pfSWC7
The Perfect Mindset Playbook: https://bit.ly/2IdZB8K
The Closing Playbook: https://bit.ly/2CtWud8
Dr Sanjay’s Book Bundle: http://bit.ly/2XiGp13
That is the information About How Much Life Insurance Do I Need? | Financial Planning Process | Dr Sanjay Tolani | Jabar Post Indonesia
Such are some brief explanations about How Much Life Insurance Do I Need? | Financial Planning Process | Dr Sanjay Tolani.>