How do you determine the sum assured for a term plan?

How do you determine the sum assured for a term plan?

Steps to Be Followed to Choose Right Sum Assured Analyze Future Working Years. … Chart Out Regular Annual Expenses. … Consider Major Life Goals. … Assess Your Investments, Savings, and Liabilities. … Insurer’s Claim Settlement Ratio. … Inclusions and Exclusions of Chosen Term Plan. … Medical process and filling proposal form. More items…

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