I must say rediff always cite wrong examples in terms of its posts on insurance, tax savings & stuff...they should give exaples relevant to the mass of the people whose income is less than Rs. 3 lacs per annum....What can a person in this case do...?How much insurance CAN he buy after supposting his family needs & if he is the sole earner in the family....? Would all the laws applied in the article above be applicable in that case of an individual also...?
RE:Wrong Example citing....
by prasanna S on Aug 20, 2007 06:23 PM Permalink
Kaustubh,
This article clearly states how you could calculate how much insurance you require. It is as generic as possible. You should use some common sense and use principles described above to arrive at the figure for a 3lakh salary and corresponding family expenditure. In fact, for a person with 3lakh salary (and consequently minimum balance after expenditure), term cover makes the most sense.
RE:RE:Wrong Example citing....
by kaustubh ghare on Aug 20, 2007 08:05 PM Permalink
So how much should invest as a premium per annum if my monthly income does not exceed 20000 & there are 3 dependants?
