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POSTED BY ON September 11, 2013 10:26 am COMMENTS (3)
Dear Sir,
I am 40 yr male , having family members 37 yr old wife & 3 yr old daughter. My monthly income Rs 25000 p.m. my wife working part time earning 4000p.m. I have United India mediclaim for me & wife 50000 & ddaughter 100000. I also have TATA AIA growth fund policy paying 6000 Qtrly basis. My wife is suffering from breast cancer from Last yr. now she is ok.
what will be provision for my wife & daughter for future. Which is the best pure term policy& how much cover I need? how much i invest for my daughter education & provision as our pension, in which term. please suggest.
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Dear Sharmila, there is nothing called best in insurance. The policy which provides you the claim amount with out any delay, is the best for you. As your wife is working part time & she may not continue in future, so she does not need a term cover. Yes you being the main income earner of the family, do need a life cover.
For wealth creation for your future goals, please do calculate, how much money you required in actual after 10-15Y.
thanks
Ashal
which is best mediclaim policy currently ? also pure term policy is required for both of us? our target is aprro 20 lac for our daughter education
Dear Sharmila, are you asking for mediclaim policy for your wife? The cover should be at least 400 times of your mly expenses + loan liabilities if any.
Please calculate how much money you need today for your d’ter & then inflate the number in actual consumption year. Now calculate, how much money you should invest on mly basis to reach that target corpus.
Thanks
Ashal