If you take the Ulips route to get yourself adequate insurance, then you could end up using most—or even all—of your income. Of course, I use the word ‘insurance’ to mean what it should—money that your family will get if you die.
As a general rule, any earning person should be insured for at least 10 years’ income. However, life cover in Ulips, almost universally, is exactly 10 times the annual premium. Therefore, to get life cover equal to 10 times your annual income, you will have to ..
