Life Insurance: Term life insurance is the simplest, most effective way to secure your family’s future. It ensures your family can take care of themselves in case anything happens to you. However, to ensure this happens properly, you need to have the right cover.
5 Steps to calculate the term insurance coverage :
1: Factors in your dependent’s monthly expenses
2: Factor in the liabilities
3: Include life event and goals
4: Factor in retirements corpus for your spouse
5: Factor in your age and wealth