2007-07-29 05:50:10 · 6 answers · asked by mahender p 1 in Business & Finance ➔ Insurance
if you asking life coverage,
a minimum of 5 times your annual salary is fine.
10 times of your annual income is a good insurance coverage.
2007-07-29 18:30:36 · answer #1 · answered by Anonymous · 1⤊ 0⤋
Depend what are you planning for, such as, for protection, or retirement, or children education, or etc.
For example, if you are planning for retirement, then probably you can use 65% of your current pay as a guide. Assume that you are 30 now, and plan to retire on 60 yrs old. Your current salary is $3000. Inflation rate is 2% per year.
Which meant you will need about $3450 per month for expenses when you reach 60 yrs old. Or $41,400 per year. The expected lifespan is normally assume at 85 yrs old. Which meant you will need about $1,035,000. for a comfortable retirement at 60 yrs old.
2007-07-30 05:29:55 · answer #2 · answered by Tan D 7 · 0⤊ 1⤋
What kind of insurance for what kind of situation???
Either provide more details in your question, or ask an insurance agent.
2007-07-29 13:16:25 · answer #3 · answered by hottotrot1_usa 7 · 0⤊ 0⤋
Your maximum cover depends upon your age, health and income. You should also look at the dependants and their monetary requirement in case any thing happens to you.
Good Luck !
pnkmurthy@yahoo.com
http://www.geocities.com/pnkmurthy/lic.html
2007-07-30 04:44:25 · answer #4 · answered by toknowmore 4 · 0⤊ 0⤋
use this insurance calculator as a guide,
http://www.einsuran.com/checklist.aspx
2007-07-29 21:44:24 · answer #5 · answered by Insurance 3 · 0⤊ 0⤋
try to find out with human life value concept
2007-07-30 12:55:12 · answer #6 · answered by ms 3 · 0⤊ 0⤋