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Question: What?s the best method to find how much insurance would be sufficient?

Answer: Follow these two simple rules. Firstly make sure the insurance cover is big enough to cater to all debts and financial needs. So opt for a cover between 10 to 12 times your annual incomes. Secondly the sum insured for your life insurance plan must be that amount which if invested can fetch a regular income for your family members in your absence.



Category Term Life Insurance Interview Questions & Answers - Exam Mode / Learning Mode
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Question: What?s the best method to find how much insurance would be sufficient?
Answer:

Follow these two simple rules. Firstly make sure the insurance cover is big enough to cater to all debts and financial needs. So opt for a cover between 10 to 12 times your annual incomes. Secondly the sum insured for your life insurance plan must be that amount which if invested can fetch a regular income for your family members in your absence. Source: CoolInterview.com



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