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NewBie
Review my life insurance coverage?
My age is 29 Years. My monthly salary is rupees 40,000/- per month.
I have two LIC plans for 16 years in which premium is approx Rs 18,000/- (Rs 12,279/- LIC New Bima Gold and Rs 6,005 in Jeevan Saral) per year. These insurance plans will last till 2024.
*LIC New Bima Gold is money back policy after every 04 years (Rs 36,000) paid by company.
Please suggest me if I need to buy additional insurance?
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Moderator
Your annual income is 480,000 = 40,000 X 12
So you should have minimum 10 times of that i.e. 48,00,000. If your coverage is less than that buy additional term insurance to cover that.
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