Tips for Calcuating Insurance Sum Insured
hello welcome to the channel don’t forget to like comment and subscribe today we are going to talk about tips for calculating some insurance is an important product to protect yourself and your loved ones for example when you fall asleep Insurance helps reduce medical costs through some assured benefits provide to customers speaking of some Assurance how is it calculated come on look at the following points so that you understand more about insurance number one human life based of using under some Assurance which is calculated based on the amount of income multiplied by how long the funds are available to finance.
Living is Method includes any return from Bank interest rates under some storage deposited in banks number two income based normally in the method of calculating the sum assortment base and average amount of income each month by including the estimated growth of funds in it three financial means need space there are some Assurance is calculated based on the cost of future needs which are equipped with current costs then multiplied by 150 percent this is the percentage of present value or current as for the calculation of future value or in the future the sum.
Insurance must be multiplied by 80 percent this method communist investment to calculate future financial needs suitable for customers who have high income is the sum Insurance enough the amount of the sum it should be adjusted the future needs because later this money is not used to meet personal needs but the health is if something happens to the policy the following are important points to determine whether or not the sum insurance from insurance is sufficient number one economic value it is determined based on the normal amount of the customers income then Define it equally 12 months to find out the average monthly income calculation of economic value.
Using their salary of net from the office number two other dependence as a customer or insured you may have dependents for example your siblings who are in school parents or children in short anyone who is maturially dependent on you the more other defendants the greater the some insurance should be thus there are no obstacles in meeting the necessities of life if the insurance is no longer producing number three relief funds with other parties in the business for example if the insurance has debts or received several from financial institutions that do not have life insurance products you assume in science calculation calculator to find out the amount of insurance that can be obtained with a certain premium amount you can visit the official website on the insurance company of choice after that follow the steps below so that some insurance is immediately displayed on the screen and then the total income and expenses for each month fill in as honestly as possible enter the estimated time when you want the have to be able to support your family as dependents it can be 10 15 or 20 years average inflation that occurred every year some incident will be displayed if the sum insurance is not enough it means you need to increase in the covers of income then the money is allocated for savings and long-term Investments so that the rate faith of the family is safe if the breadwinner is no longer productive optimal Self insurance will affect the amount of insurance premiums paid every month shot also consider this as well as possible so that the premium payments do not burden the family’s finances so that the family’s needs can be met properly