Life insurance is an extremely important part of financial planning, but not many people want to talk about it. To make this topic more accessible, NorthLink Insurance Brokers is laying out the statistical facts and other useful pieces of information to inform Nigerians about life insurance. After discussions with consumers, we have identified the main questions and concerns of Nigerians: • What amount of life insurance should I choose?
Today and next, we will be answering few questions, so make sure you tag along, like and share this post to educate others out there, plus feel free to leave us a comment or question you have...... Lets go.
Question 1: How Much Life Insurance Should I Choose?
If you get Life Insurance in Nigeria, you want make sure that all essential financial aspects are covered so they do not become a burden for your family. These aspects can include: • Income substitution for your family
• Taking care of your children’s education (e.g. university or high school costs)
• Paying down assets (e.g. mortgage on your house, car loan)
• Dealing with outstanding financial debt • Other costs (e.g. funeral). We recommend speaking with our knowledgeable insurance brokers or insurance representative before making this big decision. There might be other potential financial responsibilities that you have not calculated. If you have children, the costs can be much higher than you think.
A separate word on Mortgage Life Insurance Protection: In most cases having separate mortgage insurance is not recommended. Having enough life and disability insurance can encompass a mortgage, avoiding policies overlaps.
Send Us a message now to speak with our agents who will help you calculate your coverage cost.
2 1017 January, 2019
As brokers we help you identify your individual and/or business risks in order to help you decide what to insure, and how to manage those risks in other ways. We manage your portfolio and give you technical advice that can be very useful if you need to make a claim.
Things You Need to Know Now About Annuities:
An annuity can provide lifetime income, but there's more to how an annuity works than meets the eye.
WITH THE RETIREMENT playing field littered with crushed investments and dreams, the safety of guaranteed income streams looks more attractive each day. Some annuities can provide such a guarantee. "Annuities can produce an income stream you can't outlive." That can be true. Annuity payments can last for as long as you live – or even longer – because the payments are based on your life expectancy.
Get an annuity plan and save while you work, so you can keep getting paid after retirement.