What coverage should I take out in term insurance at age 40?
I win ₹2 lakh per month at the age of 40. I have three dependents – my wife, my six-year-old son and my one-year-old daughter. I currently have term insurance coverage of ₹75 lakh from ICICI Pru, which will end at the age of 65. Please advise if this is sufficient insurance or do I need to increase the insurance period or insurance coverage?