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Term insurance personal advise

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Sandeep Jain

Pivate

1492 Points Posted on 12 April 2023

DearbSir,

please suggest about term insurance
if a person have montly income 27000/- how much amounts he wants for term insurance so that it will pay easily yearly installment.

Replies (3)

Quick Summary

This discussion addresses how much term insurance cover an individual needs based on their monthly income. Generally, term insurance eligibility ranges from 10 to 15 times your annual income. For example, if your annual income is £324,000 (based on £27,000 monthly), you could be eligible for cover between £3.24 million and £4.86 million.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

212455 Points Posted on 12 April 2023

The maximum term insurance coverage eligibility ranges from 10 to 15 times your annual income. Thus, if your income is Rs 4 lakhs per year you can avail of a term insurance cover of Rs 40 lakhs to 50 lakhs..