It is advised to take life insurance upto 10 to 20 times of your annual income?

K N Swamy · #1 (**permalink**) 12-24-2007, 11:44 AM

Is it possible in India? What are the LIC policies for which we pay less but get more coverage? Is it possible to get insurance policies upto 20 times of the annual income? What are the policies that can be chosen?

pathaniya · #2 (**permalink**) 03-04-2008, 10:28 AM

Thanks, Swamy for the advice and the tip. Please let us know more tips.

Hadley · #3 (**permalink**) 03-08-2008, 02:48 PM

One approcah to deciding how much life insurance to buy is to get 7-10 times your annual income.

Another way is to use an online life insurance calculator to determine how much coverage you need. By using the needs calculator, you can quickly and easily determine how much life insurance you need to protect your family.

thomas9 · #4 (**permalink**) 07-25-2008, 06:21 PM

Quote:

Originally Posted by Hadley

One approcah to deciding how much life insurance to buy is to get 7-10 times your annual income.

Another way is to use an online life insurance calculator to determine how much coverage you need. By using the needs calculator, you can quickly and easily determine how much life insurance you need to protect your family.

I certainly agree with you. Your advice is really very helpful for us.
Thanks a lot!

choicearizona · #5 (**permalink**) 08-13-2008, 06:26 AM

For estate planning services it may be. For the average Joe, it's probably not very common at all.