Only at certain ages makes sense life insurance. If we refer to insurance pure life insurance risk life, covering death and disability, we want to suitably advise our customers, and we must say that only in the age group between 30 and 50 years this insurance is more appropriate.
Before 30 years, we are starting our career, we have not yet established a heritage, but possibly our family situation is that of single individuals without family responsibilities.
From age 30 it is generally quite possible that the person living with a partner and having children. It is at that point where the risk of losing life or losing health and therefore unable to continue to receive a salary, is presented as a serious risk to the family. That is when life insurance risk must cover the eventuality that these risks leave our family without resources and inability to get ahead. This risk is increased if we signed a mortgage which means that if we miss our family will not look only deprived of our wage income, but also must cope with mortgage payments to avoid running in the street.
So in this age group between 30 and 50 years is very advisable underwriting risk life insurance that will allow our family to get ahead despite the eventuality of a possible misfortune.
From age 50, normally should have been a sufficient heritage, and have paid our mortgage, so that the risk insurance life should be replaced by a system of savings to supplement at the time of our retirement declining revenue that obviously we are going to suffer.
So, if long-term subscribe or you a mortgage if you are between 30 and 50 years should consider very seriously the need to underwrite life insurance risk.
What must ensure equity?
Once we have agreed that it is very logical, reasonable and advisable to take out insurance risk between 30 and 50 lives, should be established to ensure capital.
If you have signed a mortgage you should at least cover the amount of outstanding principal of the mortgage, which will leave the family home free of charge.
It is also advisable to cover the risk of the mortgage, increase capital risk life insurance to cover our net salary at least 5 years.
This is because effectively the family after suffering the misfortune that deprived of wage income of the family head should redirect their spending and for that a minimum period of 5 years is advisable.
If the couple both work and contribute their salary, they should do two life insurance risk covering each net salary of 5 years of the insured.
Obviously if you have possibilities to cover a greater number of years of net income, do so. We’re just setting the minimum capital requirements that you should consider.
The calculation of capital to ensure, regardless of the mortgage is as follows: Calculate you net monthly after-tax income received by his family. Multiply that figure by 60 and ensure that capital at least in its life insurance risk.
Developed societies are those that know how to calculate their risks and cover to prevent accidents, which not only represent a strong personal and emotional impact, but also put in a situation of great difficulty for families who have lost loved one.