- Adequate Cover: Make sure your cover is large enough. Experts advise a minimum cover of four times your annual income.
- Choose Maximum Term: Pick the maximum term because buying a fresh plan later in life will be very costly.
- Cover Loans too: If you have big-ticket debts, cover them also. You can choose a plan where cover progressively decreases.
- Review Cover: At every life stage, you need to review your insurance cover and attune it to your needs.
- Mind Inflation : As living costs rise, so do your insurance needs. Buy more or opt for a plan where the cover keeps increasing.
Source :ET
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