Insurance is Must

Insurance is Must

I have found your magazine to be very insightful. After going through the article titled ‘Insurance is a Must’, I realised that I need personal accident insurance. However, I have a doubt about whether I should increase my life insurance if one more member adds up in a family who is dependent on me?         
- Jaimin Shah

Editor Responds : It’s good to know that you immediately reviewed your insurance requirement after reading the article. It is very crucial to review your life insurance plan and implement it if there are any changes in life. One needs to revise the life plan in case there are any life changes such as marriage, childbirth, death of any member, changes in standard of living, demise of the spouse, loss of income, etc. In your case, one dependent has been added and so, you need to revise your life insurance plan and need to consider the same member in your plan in order to protect all your dependents from any financial crisis