Going overboard with life insurance?

What is the ideal amount of life insurance cover one should have? Do people go overboard with life insurance and hence are over-insured?

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When buying life insurance doesn’t make sense?

Getting a term life insurance is one of the initial steps towards planning your financial life well. And rightly so. A good insurance cover can help manage financial risk that your family can potentially face in case of a breadwinner’s death. In case of death of the insured person, the family is paid a certain amount (sum insured) by the insurer. In return, the person buying the insurance policy has to pay a certain fee to the insurer – called premium.

Counter intuitive it may seem, but life insurance is not sacrosanct. It is not always necessary to have a life insurance cover. Here are few situations, where buying a life insurance  policy may not make sense.

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Debt funds as an alternative to fixed deposits?

Debt funds are in news again. This time thanks to DHFL (You can read in more detail here). NAV (Net Asset Value) of several debt funds have plummeted in a single day. This raises a question – Are debt funds really safe? They are often pitched as an alternative to fixed deposits – with a […]

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Whole life insurance – Does it make sense?

Term life insurance is something that every individual, who has dependents, should consider taking. However, there are many questions that one needs an answer to before buying a term life insurance. One of them is – till what age should the insurance cover be taken? A variation of this problem is – should one take whole life insurance?

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High cost of tax saving

Tax planning, for must us form an important part of managing our finances. By using certain provisions under Income Tax act, one can save good amount of taxes. Some investments and expenses facilitate tax savings. However, sometimes pursuit of tax saving can prove expensive. This is typically the case when one takes investing decisions primarily to save taxes rather than fulfilling some financial objective. This often leads to high cost of tax saving!

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Why you should get your health insurance now!

Medical expenses is arguably the single biggest unexpected expense that can set your financial plans back. Unfortunately, it is difficult to predict medical emergencies. The best one can possibly do is be prepared and health insurance can play an important role in it. Yet lot of us are uninsured or under insured.

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