Finance: Moneynet promotes greater financial understanding for consumers with new life insurance product guide

Moneynet promotes greater financial understanding for consumers with new life insurance product guide

Written by Moneynet

Moneynet.co.uk, repparttar

UK’s most established personal finance research and data website, has published repparttar 139002

latest edition in its series of online product guides to help consumers get to grips with repparttar 139003

increasing complexity of personal finance products.

Continuing repparttar 139004 success achieved by repparttar 139005 previous credit card, mortgage and loan guides, Moneynet has issued a new guide to cover repparttar 139006 subject of life insurance. According to repparttar 139007 Association of British Insurers, 50% of households purchase life insurance, usually to protect repparttar 139008 family against loss of income.

Moneynet’s guide aims to encourage and help consumers deal with repparttar 139009 many factors in choosing a life assurance policy, such as:

* What sort of cover do you need? * How much cover should you arrange? * Do you need basic life assurance or more extensive critical illness cover, and what about tax? * If repparttar 139010 policy requires regular payments, can you stop and start them without stopping repparttar 139011 policy? * Can you vary repparttar 139012 amount you pay?

Your Financial Future

Written by Ioannis Evangelos Haramis

"Wonder is repparttar

foundation of all philosophy, inquiry repparttar 139001

progress, ignorance repparttar 139002

end!" Michel de Montaigne (1533 - 1592)

Financial independence is one of repparttar 139003 most important goals for most people. Yet people sometimes miss repparttar 139004 opportunity to become financially independent because they avoid making decisions and taking action to influence their financial well being. Sometimes they may not know what action to take. At other times, they simply procrastinate.

Understanding and evaluating where you stand today in terms of your finances is repparttar 139005 first step in taking action and developing any sound investment plan.

You have to determine your net worth (your assets minus your liabilities) and what percentage of your resources you can apply to meeting your financial goals.

Net worth is repparttar 139006 main measurement of your wealth. The best ways to increase your net worth are to increase your assets and to reduce your debts.

The other number to look at in evaluating your financial situation is your net income (your gross income minus your expenses).

Try tracking all of your expenses and gross income for several months. The results will help you to determine where your current income comes from and where it goes. This information can help you better budget your spending and decide how much money you can set aside for meeting future needs and goals.

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