"Build your home business and give yourself choices"
Getting good life insurance information can be quite difficult, but it is absolutely necessary for any home based business owner.
Whether you are the sole income earner or not, you need to seriously consider good Life Insurance cover so you are not leaving any debts or financial burdens for your loved ones when you die.
As a home business owner you need to consider the impact on the lives of those left behind if you are no longer there.
You need to make plans to ensure your family can survive financially without you. If you died unexpectedly, would you want this to add a financial burden to your family as well?
Even if you are not the only income earner, can they still take care of everything without you and the income you bring in?
There are many good reasons to have Life Cover:
These are the same questions faced by most people when considering Life Insurance, and they also need to be faced by Home Business Owners.
You are no different. As with any employee or business owner, you need to consider what will happen if you do not have Life Insurance.
Health Insurance, Life Insurance or Income Protection Insurance
In New Zealand. ABACUS FINANCE, no obligation inquiry
You need to record a whole lot of information about your financials, as well as about who you are, so that you have a clear picture to help you analyse any Life Insurance information presented to you.
Start by thinking about all the current expenses you have.
Write them down.
Also write down any income you know will be available to those left behind.
e.g. Government superannuation, widows benefits, investment income etc.
Write down the things you would like to continue to do in your life such as travel, eating out, paying school fees for your children...
Also record the things you must continue to do such as eat, pay the power bills, transport or honor a commitment to support your parents in their old age...
NOW PUT A $ FIGURE AGAINST EACH OF THE ITEMS YOU HAVE RECORDED.
AND ADD UP THE COSTS MONTHLY, ANNUALLY, IN A LIFETIME ETC.
This is just the beginning.
Now you need to find an Insurance Broker.
You need to be able to trust the Broker is doing the right thing for you, and that they understand your individual situation.
They will take you through all the steps of deciding what cover you need, how much the value should be etc.
But it is really important that you have given your Life Insurance information some thought beforehand.
No one knows what you really want except you - you just have to figure it out.