I am 28 and about to get married. My annual income is Rs 7 lakh. I have a life cover of Rs 2 lakh. Should I buy more plans? If yes, which ones?As you will be married soon, you should take adequate cover to protect the needs of your dependents. A number of factors will have a role in deciding the amount of cover you should take. Payment of premium might not be a constraint in your case, so you can choose from a variety of policies—term plans, endowment policies or Ulips, to name some. Ideally, you should buy a pure risk policy to take a high cover and also a pension plan to secure your retirement. Pension plans require long-term commitment and are best taken in the early stages of life. You may buy the covers from any insurers of your choice. You should ideally also have adequate health cover. A family floater health cover will suit you well.
