Experts say term insurance cover needs more than income rule
In short
Experts said the usual 10–15 times income rule is only a starting point for term insurance. They said loans, children’s education, dependants, inflation, future goals and existing assets can change the amount you need.
This matters because the right cover can be different for each family. The report does not give one exact number or name a specific insurance company.
What the reporting says
Experts said the 10–15 times income rule is only a starting point for term insurance cover. The report says loans, children’s education, dependants, inflation, future goals and existing assets can change how much cover a person needs. It does not give one fixed formula, and it does not name any insurer or product.
Why it matters
The report says the common 10–15 times income rule is only an initial guide for term insurance, and that loans, children’s education, dependants, inflation, future goals and existing assets can all change the required cover. The story is personal finance advice rather than a policy move or market event. It does not specify a single recommended amount.