{"id":4245,"date":"2023-01-11T11:47:53","date_gmt":"2023-01-11T11:47:53","guid":{"rendered":"https:\/\/lxme.in\/?p=4245"},"modified":"2025-08-02T10:07:15","modified_gmt":"2025-08-02T10:07:15","slug":"methods-of-calculating-life-insurance","status":"publish","type":"post","link":"https:\/\/lxme.in\/v1\/methods-of-calculating-life-insurance\/","title":{"rendered":"Calculating Life Insurance: Methods and Strategies | LXME"},"content":{"rendered":"\n

How many of you have tried calculating life insurance<\/strong>?? If you have, then is it covering you adequately??<\/p>\n\n\n\n

Such types of questions were troubling Reshma who wanted to buy life insurance for herself but was unable to understand how much insurance she should buy.<\/p>\n\n\n\n

So, she approached one of her friends Divya.<\/p>\n\n\n\n

Reshma: <\/strong>Hey, Divya! I want to buy life insurance for myself but I am very confused about how much I should buy.<\/p>\n\n\n\n

Divya:<\/strong> Don\u2019t worry I will brief you about 3 popular methods I learned from LXME app, that will help you buy adequate insurance for yourself.<\/p>\n\n\n\n

So, let\u2019s get started!<\/p>\n\n\n\n

We live in a world full of uncertainties, risks surround us from we wake up till we go to bed at night. So, as much as it’s essential to save money<\/strong> for a future livelihood it’s equally important to protect such savings<\/strong> so that they don\u2019t get used up due to uncertain mishaps. <\/p>\n\n\n\n

So, how to protect ourselves financially against such risks?? The answer is INSURANCE.<\/strong> There are varieties of insurance policies available covering different types of risks such as Life insurance, Health Insurance, Motor vehicle insurance, Liability insurance, Renter\u2019s insurance, etc. Today, our focus will be on Life Insurance.<\/p>\n\n\n\n

Life insurance is designed primarily to protect dependents or beneficiaries <\/strong>in case of the insured\u2019s (policyholder\u2019s) unexpected death. Through life insurance, the beneficiaries (the person or entity entitled to receive the claim amount and other benefits upon death) <\/strong>will have the financial resources to protect their future income and pay for immediate and future financial obligations. <\/p>\n\n\n\n

Purchasing adequate insurance coverage is very essential as underinsurance <\/strong>(insurance is insufficient) as well as overinsurance<\/strong> (having insurance more than required), both can be risky. Underinsurance can lead to great financial stress<\/a> <\/strong>in case of unfortunate events. Conversely, over-insurance can lead to higher monthly premiums<\/strong> which may hamper your current finances. <\/p>\n\n\n\n

With this, we come to know the significance of purchasing adequate insurance coverage which won\u2019t create financial stress and support in hard times.<\/p>\n\n\n\n

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