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Four times your salary: What it really take to protect those you love
Even with all the planning that goes into choosing the right policy, insurers admit that life happens and sometimes, policyholders might stop paying their premiums.
An ideal life insurance cover should range between four and eight times one’s annual gross salary, financial experts say, a figure that often surprises many first-time policy seekers.
Life insurance is about protecting your family’s future, ensuring that in your absence, they can grieve, heal, and rebuild without financial distress. But how do insurers decide what your life is worth, and what determines how much you should actually be covered for?
