Posted by: Pdfprep
Post Date: February 8, 2021
Mohan is a manager in ABC Co. Ltd. His family consists of his wife and child. It is assumed that his family needs a minimum of Rs. 10,000 per month to maintain current standard of life in unfortunate case of demise of Mohan. The interest rate is 6% pa.
Calculate how much insurance is required under income replacement method?
A . 20 lakhs
B . 15 lakhs
C . 25 lakhs
D . 18 lakhs
Answer: A