Queries

Smita Vashishth, svashishth@gmail.com I have taken a term cover of Rs. 25 lakh. My annual income is about Rs. 4 lakh. I am planning to get married by early next year and my wife will also be buying a term plan. Can we opt for a combined term plan? How does a combined term plan work? Unlike family floaters, combined term plans are not efficient. It would be better for you to take separate term plans for you and your wife. Given that your annual income is about Rs. 4 lakh, it would be prudent to increase your cover to at least 50 lakh, as the thumb rule is to have a cover that is 12- 15 times of your annual income. Manik Nangia, Director Marketing and Chief Digital Officer Max Life Insurance   jagan m., Bengaluru I work in a firm and i get HRA like any other regular firm. I’m married and I end up staying separately from my mother. Need to pay rent for two houses which are near...