4.- HOW MUCH MONEY DO THE INSURANCE?
To take out life insurance, they will ask you what capital you want to insure; that is, how much you want the insurance company to pay your heirs if something happens to you. Logically, the more you need, the more you will pay for your insurance.
How to calculate it?
It includes a capital that is at least five times your gross annual salary. That is, if you earn € 24,000 a year, secure a capital of € 120,000.
If you have a mortgage, add the amount of what you have left to pay, so that your heirs can meet the bank's fees.
If you have debts for personal loans or car bills ..., add them to the insured capital.
Think, in addition, about the particular situation of yours. Are your children small or do they already earn a living? Does your partner have their own resources or need your financial contribution? Are there dependent relatives?
Add all this and calculate the capital you must insure to protect the people you want.
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