If you want to choose the right amount for life insurance cover, you must remember that the primary objective of life insurance is to offer financial support to your immediate family or dependents, if you meet an untimely death or are unable to generate income due to a permanent disability. An ideal life cover should be enough to provide your family with sufficient income to maintain a reasonable standard of living.

To ensure a thorough life cover and also secure your family’s future, you must have a smart and informed decision. You can begin by identifying some of your top-most financial goals and then calculate the life cover you will need for meeting those goals.

Here are some of the top factors to keep in mind while deciding on the amount of life insurance:

  • Current Yearly Income
  • Current and possible future Liabilities (financial)
  • Top-most Financial Goals
  • Age while purchasing the policy
  • The period for which you want to be covered

One of the other important questions you can address while choosing a life insurance amount is how much can you afford. Depending on your capability to pay an annual premium, you can choose a certain band of insurance. The higher the cover, the higher the premium you will have to pay.

Popular Links

Related Q&A

Credit Card By Bank

Credit Card Customer Care

Personal Loan Customer Care

Home Loan Customer Care

Popular Bank IFSC Codes

Gold Rate Today

Silver Rate Today

CreditMantri will never ask you to make a payment anywhere outside the secure CreditMantri website. DO NOT make payment to any other bank account or wallet or divulge your bank/card details to fraudsters and imposters claiming to be operating on our behalf. We do not sell any loans on our own and do not charge any fee from our customers/viewers for the purpose of loan application

Mastercard
Visa
Rupay
SafeKey
thawtr
Corporate Agent (Composite)

CreditMantri Finserv Private Limited

CIN No

U72100TN2012PTC085154

IRDAI Registration Number

CA0665

Valid Till

01-Aug-2025

ADDRESS

CreditMantri Finserve Private Limited Unit No. B2, No 769, Phase-1, Lower Ground Floor, Spencer Plaza, Anna Salai, Chennai - 600002

Copyright © 2024 CreditMantri