Annual insurance review: Why you must boost term cover at key life stages

Your health policy's sum insured also needs periodic enhancements to keep pace with medical inflation

Most investors review their investment portfolios annually but often neglect their insurance portfolios. Reviewing the latter is essential to ensure your family is protected financially.
 

Reviewing the term cover
 

Ensure that the amount of protection you have aligns with your family’s evolving lifestyle and financial goals. “Life situations keep evolving, so an annual review of coverage is essential,” says Peuli Das, chief insurance officer, Future Generali India Life Insurance.
 

Scenarios for increasing coverage

At each significant milestone of your life, increase the coverage. One is marriage. “Financial responsibilities amplify after tying the knot and so should the term cover,”