What does is mean?
See if your current insurance coverage is sufficient to protect your family's financial future.
How does it work?
It adds up your family’s future expenses, loans, and goals and compares them with your existing life cover.
Formula:
Required Cover = (Annual Expense x No. of Years Family Needs Support) + Liabilities – Existing Cover
You’ll instantly know your coverage gap and how much more protection your family might need.
Example: If your family needs ₹1 crore for future goals and you already have ₹60 lakh cover, your gap is ₹40 lakh.
FOLO tip: Ensuring adequate coverage helps safeguard your loved ones against unexpected events, providing peace of mind and financial security.