-
-
-
Services
-
-
-
More
-
POSTED BY ON November 30, 2012 7:07 pm COMMENTS (2)
Hi Sir,
My name is Rakesh Kumar, i am 24 year old and have a 2.3 lakh
annual salary. I don’t have any kind of illness and neither i drink
nor i smoke.
Please suggest me some good insurance policy for long and short term both.
I have no idea about any kind of policy or insurance.
2021 © Jagoinvestor.com All Right Reserved
Do you have any “dependents”? Do your parents depend on you? Do you have brothers/sisters who you need to take care of (Say sisters marriage or Brothers education etc). Get the answers to these questions and then decide on how much money your dependents would need in case you are not there and then take a “Term Policy”. Also, the “Premium rates” for a Term policy is cheap and remain cheap until you are 30/35 years of age.
What you need is Health Insurance, if you don’t already have one, get one immediately. Cover yourself and your parents. If your parents are about to reach 60, get them covered immediately. Premiums after 60/65 is high and there might “co pay” as well. So get in as soon as possible to avoid this.
Apart from this, you need to think abt investments, PPF/SIP etc, in case you have not started it already. 24 is just the right age to make huge gains 🙂
Choose a pure term life insurance policy for a sum of 10-12 times your annual salary.
You can get an online policy from many companies likes Aegon Religare, HDFC, ICICI
Fill in the form truthfully and carefully.
You would need additional insurance a little later when you get married and have children
Dont delay at 24 you will get very cheap premium rates
The policy term should be until you retire say at 60 years