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How Much Do You Need To Spend On Your Life Insurance

By SiliconIndia   |   Tuesday, August 27, 2013
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Bangalore: Having insurance would be the best financial decision you would probably make. Most of the time people are unsure how much insurance, particularly life insurance, they would really need. However, if you are planning to get an insurance policy make sure that you look for the best package that rightly suits you and your family.

For instance, People might have many insurance policies like health insurance, life insurance and medical insurance but they do not think further whether they are adequately covered through these policies.

It’s very important for every individual to know the pros and cons of insurance policies and to know whether it provides the complete cover. Infact it was observed that, there is majority of Indians who is either uninsured or underinsured, reports Sanjeev Sinha of Economic Times.

In cases of underinsured, the family would not be financially self-sufficient. The situation might get worse when the family looses the chief wage earner or the policyholder due to their  untimely death. As Ashish Kapur, CEO, Invest Shoppe rightly says that getting an adequate cover is not an easy task as there is no fixed rule for deciding the amount of life insurance one needs.

Also Read:
These are the ways NRIs Can Invest in India
7 Smart Financial Moves Before You Enter the Age of 30


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