The evolution of Life Insurance

Guys, I thought i should share the history of life insurance since people often have misconceptions about its purpose. Hope you can take the time to enjoy this short clip.

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Are your possessions more important than your life?

As you all know its mandatory to have motor insurance once you own a vehicle, yet people still shy away from owning life insurance. Lets say an accident does occur and both the car and life is lost. Will a family find comfort in a replacement car while they mourn the passing of their loved one. What's your thoughts on this? I'll love to know ,place your comments below.

Common questions about Critical illness

Many people in Trinidad and Tobago are not prepared financially when faced with a serious illness, despite having good medical coverage. When faced with a critical illness usually your income reduces but your expenses increase significantly. Expenses in this case not only includes the cost of health care, surgery, medication and medical consultants but those expenses you had before becoming ill. Critical illness insurance can help lessen the burden of increased out-of-pocket expenses so that you can focus on recovery instead of these expenses. What is critical illness insurance? Evolution in modern medicine has increased the survival rate for conditions such as cancer, stroke and other major diseases. Unfortunately, this has not reduced the growing rate of persons affected by these critical diseases who are usually unprepared financially for the cost associated with recovery. The purpose of critical illness insurance is to help supplement the benefits of traditional medical ...

How to calculate your life insurance need.

So you’ve made the decision to purchase life insurance. Then you ask your agent how much you need. Unfortunately, there’s no one size meets all when calculating coverage amount. You can start by taking a look at the following tips. Consider Your Annual Salary If your family depends on you for financial support, consider life insurance to replace your income. It is usually recommended to have coverage to cover the expenses until your youngest child reaches 18 years. Many experts recommend you have coverage that’s at least five to seven times your annual gross salary. It really depends on your family's situation and your individual needs. It’s important to take into consideration how much your family will need to get by … and for how long. Look at Your “Hidden” Benefits Consider additional life insurance which you love ones may inherit from company plans. Usually group plans have life insurance coverage which p...

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