Your inputs are always valuable to make my financial life better. I need your advice and guidance regarding the term plan.
a) How should i decide the Cover amount for my term plan ( I am 37 yrs. old, 2 daughters, will be free from all liabilities max. by 65 years of age i.e. around Year 2040.
4 replies on this article “How should I decide the Cover amount for my term plan ?”
Great resource for you http://www.moneycontrol.com
Sorry forgot the link http://www.moneycontrol.com/personal-finance/tools/insurance-calculator.html
Good tool to calculate insurance amount as long as values being input are good.
Dear Deepak, either purchase term cover as a multiple of your current yly income or current mly expenses + loan liabilities.