What should be the ideal duration for a life insurance policy?
The selection of duration of the life insurance policy depends on several factors
What should be the ideal duration for a life insurance policy?
Surmeet Kaur, Delhi
The selection of duration of the life insurance policy depends on several factors such as the insured’s age, income, financial dependents, liabilities, health condition, and even financial future goals. Ideally, the quantum of life insurance cover should be such that in case of an eventuality, your financial dependents are left in a financial situation where they do not need to make any compromise with their lifestyle. Take adequate cover for as long as it is available to make sure that you do not face the challenge of being unable to add cover at a later date.