How to use this template:
Ideally one should cover their death risk (dying during earning years) by buying adequate Term Assurance Plan which is the most economical insurance
Death during earning years can be catastrophic for the dependents of the family, hence it is imperative to choose the right sum assured
For instance, if your monthly income is Rs.50000 multiply by 12 which gives you Rs.6 lakhs
When Rs.6.00 lakh amount is divided by the prevailing bank interest which is approx. 6.00% (after accounting for taxes at 10%)
Rs.6.00 lakh divided by 6% is Rs.1.00 crore; this should be your ideal sum assured amount
Our advisors would be happy to talk to you and assist you with choosing the right sum assured amount in case of any clarifications