How much life insurance should I take as 30-year old single woman in Bangalore, earning Rs 10 lakh a year and living on my own?
Life insurance should be taken to provide financial support to your dependents in case of your demise
How much life insurance should I take as 30-year old single woman in Bangalore, earning Rs 10 lakh a year and living on my own?
Radha Kumar
First of all, life insurance should be taken to provide financial support to your dependents in case of your demise. The sum assured should be based on a needs analysis that you can undertake on your own or through an agent/advisor of any insurance company to get a sense on how much insurance you need. Basically, the sum assured should be enough to pay for any financial liability you may have, besides creating a corpus for your dependents to meet their finances in case of your absence. As you are single, chances are you may have no financial dependents. If it is so, you can defer the decision to purchase life insurance at this moment.