Estimating coverage needs
- Topics:
- Insurance
- Tags:
- Beneficiary,
- Business Operations,
- Corporate Insurance,
- Finance,
- Financial Planning,
- Income,
- Insurance,
- Life Insurance,
- Operational Accounting
- Source:
- Business Week Online
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Overview: Life insurance provides payments to your beneficiaries that replaces some or all of your income if you die during the coverage period. These payments make up what is called a death benefit. Most life insurance policies are taken out to replace family income in the event of an untimely death. As a result, these policies often designate a spouse, child, sibling, or parent as beneficiary. The policy may also designate more than one beneficiary. This article also explains some steps that will help you to more accurately estimate your coverage needs like determining your coverage period, calculating the expenses that require coverage, reducing the amount of required coverage by available assets and income etc.
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Format: HTML | Date: Sep 2003 | Pages: 1
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