Need-based planning starts with dependants, liabilities, medical risk, current assets and existing cover before deciding how much protection may be required.
Useful before purchasing new term or health insurance, especially when existing policies already exist.
Use these points as a discussion checklist. Exact policy terms differ by insurer and product.
Clarify what financial event needs protection.
Calculate a realistic protection amount.
Review exclusions, limits and policy conditions.
Reassess protection when family or finances change.