Insurance Assessment

POSTED BY Rajesh Saxena ON October 21, 2010 12:57 pm COMMENTS (2)


I paid an annual sum of Rs.90000/- (approx.) towards my insurance for Rs.13 lakh in 6-7 policies.  No single policy taken by me is term policy. Can you please assess my investment in insurrance.  At present my annual income is Rs.3 lakh approx.  Is there any need to exceed investment in insurance or it is enough with the view of my annual income.

Rajesh Saxena

2 replies on this article “Insurance Assessment”

  1. Rajesh

    You should also change the way you are looking at Insurance, you should not call it “investment in insurance” , there is nothing like that .

    Its a bad habit . If your insurance is providing any money back to you in any form , Its not recommended .


  2. Just ask one simple question to yourself.

    Is the insurance amount sufficient for your family members in case of some mis-happening with you? Can your spouse give good education to your children with this money and then their marriage and meeting day-to-day expenses throughout life?

    Also, consider your liabilities like loans also, if any.

    if your answer is No, just add term insurance in your portfolio. That is MUST.
    Now-a-days, companies like ICICI Prudential & Aegon Religare have decreased their premium to affordable level for everyone. Check them.

    Hope it will help you.

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