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Step 3 – Selecting a policy

Calculate the insurance you need

Consider the current expense profile of your dependents and the current wealth level of your family. Consider also the risk tolerance level of your dependants.

Selecting your Premium Paying Term (PPT)

How long do you want to pay your insurance premium for? This decision depend on the following factors:
§ How many years of regular income you expect
§ Level of your regular savings

§ Level of your regular savings
§ How much insurance premium you can firmly commit to
§ How long you want to be insured versus how long you expect to pay a premium for

Other important questions
§ Do you want to participate in bonus/ profit share?
§ What is the primary objective - risk cover or investment returns?
§ Do you want accident cover?

Buying insurance can be as easy as buying a cell phone. Find out how and get ready to face those life insurance agents.

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