Evergreen Life Explain Why You Need Life Insurance

When it comes to planning your financial future a comprehensive, an up-to- date life insurance plan is crucial. One of the biggest mistakes some married couples make is only insuring one partner - the primary breadwinner - and not the spouse who has stepped back from his or her career to take care of the kids. This can be a costly mistake if the stay-at- home parent dies. Among other issues, the surviving parent may face much higher child-care expenses.

Often people give little thought to the question of how much financial cover is needed, and come up with an estimate that may not reflect their actual needs. At Evergreen Life they promote a needs-based analysis that takes a number of factors into account, and careful consideration is made of how much it would take to pay off mortgages, fund your kids’ education and replace lost incomes. In general, people buy life insurance right after they get married, buy a home or

In general, people buy life insurance right after they get married, buy a home or have their first child. They tend not to give it another thought and let their policies roll over year on year. This is a common mistake and a biggie as a lot can happen in five years – more children, higher salaries, more debt. So it’s important to keep your cover up-to- date to make sure your insurance cover still meets your family’s needs.

The most cost-effective time to secure life insurance is before you start having health issues. It’s a bit of a double edged sword – as generally when you’re in your early twenties you feel invincible and haven’t needed to consider what could go wrong health-wise. However, if you have a plan in place early and become unwell or develop a chronic condition, you’re less likely to pay for it in
your premiums. If you wait until midlife, when health issues generally start to arise - along with responsibilities like family and a mortgage - you may find your premiums are higher or you can’t get life insurance at all!

Having life insurance is a vital financial safety net for your family and will give you significant peace of mind, so for more information on life insurance NZ, redundancy insurance and mortgage cover please go to http://evergreenlife.nz/