What is the '10-times-annual-income' insurance rule?

The '10-times-annual-income' is a rule for estimating the minimum amount of life insurance cover needed. It suggests that life cover should be at least ten times a person’s yearly income. For example, an annual income of ₹15 lakh would require a ₹1.5 crore cover. However, the rule would not be adequate if there are large loans or extra financial responsibilities.