Insurance protects the plan you are building. Before discussing any investment, we look at whether your family would be financially secure if something unexpected happened to you, and whether a medical emergency could drain your savings.
In most cases, that means adequate term life cover and comprehensive health insurance of your own — separate from your employer's group cover. We generally encourage keeping insurance and investment decisions separate, so each can be evaluated on its own merits.
Where it may fit
- Families who depend on your income
- Professionals relying only on employer-provided cover
- Reviewing existing policies for gaps or overlaps
- Business owners and those with significant loans
Things to consider
- Cover amount based on income, liabilities and goals
- Policy exclusions, waiting periods and claim terms
- Disclosing health history accurately at proposal stage
- Premium affordability over the full policy term
Insurance is the subject matter of solicitation. Please read the policy wordings and sales brochure carefully before concluding a sale. Insurance products are offered through licensed insurers/intermediaries as applicable.
How much life cover do you need?
- Future household expensesWhat your family would need each year, for as many years as they'd depend on your income.
- Plus outstanding loansHome loan, car loan and other liabilities your family would otherwise have to repay.
- Plus key goalsChildren's education and other commitments you want protected.
- Minus existing assetsInvestments and existing cover that could be used for these needs.
A rule of thumb of 10 to 15 times annual income is often quoted, but a needs-based calculation like the one above is more reliable.
Term insurance versus traditional plans
| Term insurance | Endowment / money-back plans | |
|---|---|---|
| Purpose | Pure protection | Protection plus savings |
| Cover for the premium | High | Much lower |
| Returns | None (premium buys protection) | Typically modest |
| Flexibility | Simple and transparent | Long lock-in; costly to exit early |
This is why we generally keep protection and investment decisions separate.
Health insurance checklist
- Sum insured adequate for hospital costs in your city
- Room rent limits and sub-limits on treatments
- Co-payment clauses
- Waiting periods for pre-existing conditions
- Network hospitals near you and cashless claim process
- Top-up or super top-up options for higher cover at lower cost
Questions people ask
Is my employer's health cover enough?
Usually not on its own. It typically ends when you leave the job and may not be large enough for serious illness. A personal policy gives continuity.
Why does disclosing health history matter?
Non-disclosure is one of the most common reasons claims are disputed. Declaring everything accurately at the proposal stage protects your family.
When should I review my cover?
At major life events — marriage, a child, a home loan, a new job — and at least every couple of years.
The information on this page is educational and general in nature. It is not a recommendation to buy or sell any product. Investments are subject to market risks; read all scheme-related and offer documents carefully. Suitability depends on your individual circumstances.
Ready to take the next step?
Let's talk about your financial goals.