I am 38 and don’t have a life cover. I have my parents living with me, but they are not financially dependent on me. How much insurance should I buy?
Samri Tiwari, Bhopal
You should take life insurance if you have financial liabilities or have financial dependents. You have not mentioned your marital status or if there are any people who are financially dependent on you. If you do have financial dependents, you should explore taking a life policy by evaluating your financial needs and the financial risks you are exposed to. At your age, you may need to undergo a medical examination before an insurer offers you a policy. Based on these inputs, go in for an adequate term insurance policy.
