Determining the appropriate amount for a guardian life cover to provide for your children involves considering several factors, such as your children's ages, future education costs, daily living expenses, and inflation.
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What are your children's annual living expenses (e.g., housing, food, clothing, healthcare, extracurricular activities)?
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How many years of financial support will your children need until they reach adulthood or become financially independent?
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What are the estimated education costs for your children (including primary, secondary, and tertiary education)?
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What additional costs might be involved for education (e.g., books, uniforms, transportation, boarding fees)?
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What is the current inflation rate, and how might it affect future expenses for your children?
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Do you need to set aside any additional funds for emergencies or unforeseen expenses related to your children?
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Are there any specific activities or programs your children participate in that require extra funding? |
Add these all together and come up with an amount of money you will need to cover your children, or adult dependent until they are self sufficient.
Place the amount into the quote form (at the bottom). You will be provided a quote based on your amount and affordability.
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