As a thumb rule, a person
needs to have a minimum of 10 times his annual income as life Insurance cover.
Take into account your
assets and liabilities, before zeroing in on the right cover and amount. Also,
it is best to go for a pure protection term cover, which is the most
cost-effective form of life insurance.
A 30 year-old non -
smoking woman can hope to buy a term cover of Rs. 1 crore with a 20, year
tenure for just Rs. 7,000 to 8,000 a year.
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