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Term insurance sized to your income and loans

Term insurance pays your family a lump sum if you die during the policy term. It is the lowest-cost way to protect the people who depend on your income.

How much cover

A common starting point is 10 to 15 times your yearly income, plus the loans you still owe, minus cover you already have. The protection gap check on my home page does this in a minute.

What I help with

• Term plans for earning members and homemakers
• Term with return of premium
• Choosing the cover period, up to age 70, 75, 80, 85 or 99 where available
• Riders such as accidental death and critical illness
• Honest disclosure of health and tobacco use, so a claim is not rejected later

What the insurer will ask for

ID and address proof, income proof (salary slips, Form 16 or income tax returns) and, for higher covers, a medical check-up.

Ankeet Bahety, IRDAI-licensed insurance agent (life, health, general) and AMFI-registered mutual fund distributor, Kolkata, serving clients across India. Insurance is the subject matter of solicitation. General information only, not personal advice.