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Best term insurance: Term insurance has become the biggest need of people today, which gives you financial security. But, often this question comes in the mind of some people that if their salary is between 20 to 30 thousand rupees, can they take term insurance? Whereas, it is not that term insurance can be very important even for a person with low income and especially when the financial responsibility of his family depends on his earnings.

In case of sudden death of the earning member, it becomes a big challenge for the family to meet household expenses, children’s education, rent etc. In such a situation, adequate life cover can provide financial support to the family. Let us know about it.

Some people often remain confused about term insurance. But, if your income is less than Rs 30 thousand, then you should take such term insurance, in which the premium should be low and the life cover should be high. You can take such insurance from any private company or if you want, you can also get term insurance from the government insurance company LIC. If your salary is low then do not pay attention to high amount or sum assured in the beginning. It is important that you should get term insurance.

If we talk about what should be the life cover for people with a salary of less than Rs 30 thousand, then in this salary you earn Rs 3.6 lakh annually. Accordingly, your life cover should be at least 10 to 15 times more than your annual income. In such a situation, your life cover should be between Rs 36 to 54 lakh, after which your term insurance will suit your needs exactly.