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I am a bachelor with an annual income of Rs 4.6 lakh. Suggest some life covers.

If you are looking for a life cover, you should go for a term insurance to cover yourself adequately

I am a 27-year old bachelor with an annual income of Rs 4.6 lakh. I am able to save Rs 1 lakh per annum. As of now, I do not have a life cover. Also, I have not made any investments for the purpose of either capital appreciation or saving taxes. Please suggest some relevant life covers for me.

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Surmeet Chaddha, Chandigarh

It will be best if you look at your investment and insurance independently. If you are looking for a life cover, you should go for a term insurance to cover yourself adequately. Since the term insurance covers pure risk, the premium for such policy is very low. For investment, you can look at a whole lot of options including insurance. If you start investing in a pension plan at this stage, you may have to invest relatively smaller amounts to get a decent pension at the retirement age.

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