Insurance: Calculate Sum Assured At every stage of life, there is an element of risk for the individual. For instance, if you are married and have children, an untimely death or accident is going to cause serious financial loss to your family. Adequate insurance cover is, therefore, advocated by all financial planners to make sure that your family does not go through any financial hardships. However, while it is important that you have enough insurance, too much of it is also bad. This is because insurance, as a product, does not give you great returns. So, you need to have a proper mix of insurance and investment to meet all your financial goals. Let us look at different life stages and what are the elements that you need cover for: From birth till end of education There is actually no need to have any life cover as the individual's ability to earn any income is nil. In case of an untimely death, the parents are more bereaved because of the loss of a child,
Life Insurance in India