4. Try To Know Whether Your Insurance Is Providing You Complete Cover

The rise in inflation has also shown its effect on the medical expenses as well. So, it’s always better to have a medical insurance for yourself and your family.

Try to maintain the coverage and premium paying dates, so that your father does not delay in paying the premiums of the policy. Incase if he has an insurance policy with less coverage; make sure that he renews it with a larger coverage.

5. Maintain A Record Of All Your Investments

Most of the parents tend to keep their money in fixed deposits and after a certain time frame they forget to withdraw or renew the money that is deposited. You should try to make your parents understand the importance of maintaining records and tracking the performance of all investment products.

Try to know more about other investment instruments that are available in the market and suggest the one that rightly suits your family.

Also Read:

5 Personal Finance Myths Which Can Make You Loose Money

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