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Free Financial Plan

If you have dependents, buy an online term plan. Buy the maximum amount you can get. It would be 10-15 times your salary. Avoid any other insurance products like endowment and moneyback. They offer poor coverage and give a return lower than bank FDs

We earn, we spend on monthly expenses and we have financial outgoes such as insurance premium and loan repayments or tax saving investments. What is left is our monthly savings. Make sure it is 25% of your income. Remember, all your major future expenses (children's education, marriage expenses or retirement corpus) will come from this savings, carefully invested.

A PA policy is a must for all. Make sure you have one which is 10 times your annual income and that it offers lifelong renewal and covers comprehensive disability (permanent total disability, permanent partial disability, temporary total disability).

If you don't have a health insurance or if the one offered by your employer is not enough, buy a health insurance. If you have a family, preferably buy a family floater.

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