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.

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.

olmdesk@outlookindia.com