Intend to buy term insurance for death, TPD, CI and ECI for my teenage boys. How do I know what coverage is sufficient/appropriate for them?

Answering your main question... you can do the coverage within your budget..

Normally we make sure our liabilities are covered. for buying coverage for your teenage boys...its commendable. you can do within your means because once they are dependent, they can do up their coverage base on their liability.

My expat client told me children without liability need not have coverage but at least hospitalisation. reason is who is the 1 who will benefit from their death? He doesnt want that money. Critical illness - children after 2 years old( critical years is because during this 2 years they are developing) ...have lower risk of getting Critical illness.

Normally my client will do WL of 50k multiplier of 3 to have at least some coverage for their children...this is some range you can consider...

I give you 2 kinds of examples for your consideration.

Yes, you can convert to 5% co-payment. the premium is lower.

Hey there!

Term insurance in general is very affordable with high coverage (up to millions of dollars). I will recommend at least 10 times your annual income to make up for lost years. For Critical Illness, the coverage should be approximately 3-5 times your annual income because that is often the amount of time someone may take to recover/recuperate.

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