Determining life insurance needs for a non-working spouse
According to a Moneycontrol report, the life insurance coverage for a stay-at-home spouse should be based on the financial burden the family would incur if they were no longer around. This is necessary because the family would need to hire help for responsibilities such as childcare, cooking, managing the household, and caring for elderly relatives. For instance, if replacement services cost ₹30,000 per month, the total expense over 12 years would reach ₹43.2 lakh, excluding the impact of inflation.
by shortkt.com✓