Investment Queries (Term Insurance and Investment Advice)

POSTED BY 89hardy ON October 12, 2013 10:29 pm ONE COMMENT

My query is short and precise. Since I’ve no idea about this field and calls from agents have left me even more confused, I’m 24 now. My annual income is 5.4L which is expected to go up to 7.2L very soon. I’ve no loans and have only 2 members in my family(Parents) and might get married in next 2-3 years or so.

I’d like to have your opinion on the following:

1. Should I buy a term insurance being the only child? 2. If yes, then of what amount and from what companies? 3. I haven’t invested in anything so far(LIC, MFs nothing). So any other financial advice from your end which I can start off early in my career to reap benefits in long and short term?

Thank you!

One reply on this article “Investment Queries (Term Insurance and Investment Advice)”

  1. ashalanshu says:

    Dear 89Hardy, regarding Term cover, if your parents are not dependent on your income, you do not need a term cover now. Later on before getting married or just after your marriage, you should purchase 1 cover subject to your requirement at that time.

    To understand financial planning you need to check this.

    jagoinvestor. com/forum/finacial-planning-faqs

    Thanks

    Ashal

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