@Akan hats off to you sir! Amazing dedication, knowledge and resources! 
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Thank you sir
Hi, It was the please read you answer, Sir! I have just read… Thank you!
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Can you tell us more about the life insurance you have in mind?
“Term Life” insurance is the cheapest insurance with the best payout in the insurance world.
The cost of the insurance is 1% of the payout value which is paid (the cost) over the period of the cover. A period of 20 years or more is advisable where possible.
The minimum payout in some countries (by law) is $250,000 which means that for a 20 year term, the total cost would come to $2,500 which is $125 per year or $10.42 per month. To give you a better idea, someone earning $40,000 per year in North America for example can decide to use 1% of their earning ($400 per year or $33.33 per month) and have a payout of $800,000 to their beneficiaries if the policy is activated.
A number of insurance companies offer and add riders to these policies to make them more expensive and justify extra charges that don’t benefit the policy holder or their beneficiaries. Never add riders regardless of the fancy names they come with. Nothing beats a basic term insurance.
Please find some site with more explanations and examples below
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