Term Life insurance is different from other life insurance policies. Term life insurance ensures that your family gets large lump sum amount called the sum assured, in unfortunate events of death of policy holder. Term insurance plans provide an opportunity to get the protection of life insurance cover at extremely affordable prices.How much life cover do I need?
Human life value (HLV) is commonly used to judge that how much insurance do I need?
An individual's HLV is a multiple of his or her annual income.
The table below gives an approximate HLV multiple for different age bands:
Age In Years |
Income multiple |
18-35 |
25 |
36-45 |
20 |
46-50 |
15 |
51-60 |
10 |
For example, if a 32 year old declares an income of Rs. 10 lacs, the ideal life cover would be 25 X 10 lacs = 250 lacs
Enquire Now