Personal Finance
How Much Is My Life Worth? Here’s How Much You Need To Be Covered For Life Insurance
By Seedly  •  February 14, 2020

I’m writing this article from home today, not because Seedly has a work-from-home policy, but because I am down with a cold.

With the COVID-19 virus circulating in Singapore recently, it is natural for people (myself included) to be a little paranoid.

So when I was down with a fever just last night, my first tendency (don’t laugh) was to search up on life insurance policies.

I’m the oldest child in my family, and both my parents have retired. Naturally, I would be worried about their well-being, if I were to die due to an accident or say, the coronavirus.

So without further ado, here’s a quick formula for calculating how much life insurance you need!

TL;DR: Here’s How Much You Need To Be Covered For Life Insurance

In General…

A good estimate would be to get life insurance coverage that is 10-15 times your annual income.

Let’s say

...
Read the full article
By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance