Buy more insurance cover if your liabilities have increased in the year

Hike health insurance coverage as well to keep pace with medical inflation

If you are planning to undertake a year-end review of your investment portfolio, don’t forget to carry out a similar exercise for your insurance portfolio as well. In particular, scrutinise your term and health insurance covers thoroughly as they are vital for ensuring your family’s financial well-being.

More responsibilities, higher coverage

Ensure that the sum insured on your term cover is adequate. “It should equal at least 10 times the net annual income so that even in case of the breadwinner’s untimely demise the family has income coming in for at least a decade,” says Kapil Mehta, co-founder