Background
Am not a financial expert, but in my mind, being sufficently insured in terms of life & health is the first step any should take before venturing into the world of equity, debt, mutual funds etc.
With this philosophy as a background, I got a couple of term insurence & a health insurance.
However, of late, I feel a need to review my cover.
Dear All, request you to kindly guide me with my case.
Case
I currently have the following plans-
Lic Term Plan – 25 Lacs – (8,600) Premium
Kotak Preferred Term Plan – 50 Lacs – (8,820) Premium
Individual Health Guard – 1 Lac – (1,923) Premium
I got married last year & feel that I should review the above.
To my mind Lic Policy is extremely expensive & am considering discontinuing it.
I intend to be insured for 1.5 Cr, kindly suggest 2 term plans in addition to the 50 Lac Kotak plan I have to be able to meet my goal. Also, I want a plan with Permanent disability rider as it is missing in my plan thus far.
Also, Kindly suggest changes should be made to my health plan so it covers my my wife as well (Family floater may be??). Am satisfied with Bajaj & intend to continue with them. I intend to get my critical illness & hospitilisation covered here.
Finally, kindly suggest a personal accident cover for me in case of eventuality as I am the primary bread earner.
My age is 30 & monthly income 50,000 p.m
Thank you in advance & awaiting your valuable inputs