How much insurance one needs?

[rohit]

Could you please let me know How much insurance one needs?

[Rahul]

There is no thumb rule to calculate this value. This entirely depends up on one's Age, Income, Liabilities,Future life ambitions, Personal networth at the time of seeking insurance and a few other factors like family history, Type of Jobs etc. Unless one discusses with an Insurance advisor, one will not be able to arrive at a accurate number. While discussing with an advisor do not succumb to the pressure of buying unit linked plan or endowment type plan. Buy term insurance and invest rest elsewhere (Property, ELSS, PPF, FD, Gold etc) wisely.