How do we determine the right life insurance amount ?
Shailesh Kumar, Co-founder, Insurance Samadhan
Answered on November 24,2021
Answered on November 24,2021
Dear
It should be done through HLV ( Human Life Value ) method
For example : You are 30 year old and earning Rs 10 lakh per annum .
Human income generation is considered till age 65 .
You will generate income for next 35 year .
Hence you HLV = Earning multiplied by No of years i.e 10 * 35 = 350 lakh
So you need a life cover of 350 lakh
Hope this clarifies
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