NLIC.org

Mattie Said:

Life Insurance?

We Answered:

Use a thirty year level term policy. The agent who helps you get the policy should provide a financial needs analysis, free of charge, to be sure you get the correct amount of coverage for the correct length of time. The face amount you get right now, does NOT have to be the same in 5, 10, 15 years. At each of those places, you could sit with that same planner and review your goals. You can then increase or decrease the face amount as needed.

By using the thirty year level term, you pay the same premium over the length of the term. In thirty years, with the right plan, you should be self insured; you don't need insurance any more. Insurance is meant, mainly, for young families due to debt, mortgage, kids, and education. Later, your plan should have provided for a comfortable retirement with debt eliminated, house paid for, kids out of the house and education taken care of. Now you don't need insurance.

I work for Primerica Financial Services. All of the above we provide families, at no cost. YOU don't pay us. If we can't put you in a better financial position than when we sat down with you, we don't do business with you.

Amanda Said:

building insurance FOR LEASHOLD PROPERTY?

We Answered:

With regard to buildings insurance- the flat may be insured as part of a block or insured individually. You will need to find out from the management company to whom you pay your service charge.

The service charge implies that it is for routine maintenance of exterior & interior of building- it may have nothing to do with insurance.