Flexi Max Protect

Question 1

What is the max sum insured logic for loss of job cover and loss of income cover?

Answer 1

Loss of job cover - Multiple monthly income by 3, then compare with 10% of base sum insured. If monthly income is Rs 30 lakhs and 10% of base si is Rs50 lakhs, 30*3 = 90 lakhs, si will be Rs 50 lakhs as 50 is less than 90.

Loss of income cover - compare monthly income without multiplying by 3 with 5% of base SI. Take the least and then multiply that by 3. Max monthly income can be Rs 10 lakhs. Hence max si can be Rs 30 lakhs.