 "LIC, Aberdeen hold key to Nuvo-Grasim merger")
I am currently earning Rs 80,000 per month. I don’t have any life insurance. But I am getting married next month and plan to buy a term plan soon. What are the factors that determine the amount of cover? How do I calculate my requirement?
Your present income and liabilities are key deciding factors for the amount of cover you need. Use the need analysis calculators available on life insurance companies’ websites to find out the cover that you should take to meet your financial requirements.
Given your income and expected working life you should opt for at least Rs 50
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