More dependants, increased liabilities should prompt hike in term cover

Boost health coverage periodically to cope with double-digit medical inflation & access premium healthcare facilities

Just like investments, your insurance portfolio too needs an annual check-up. Every year, you should assess if the current coverage amount is adequate, and in harmony with the medical inflation.

And you should evaluate whether porting to a new policy that offers the latest, improved features would be good for you or not.

Term insurance

Increasing term insurance coverage is advisable in the following situations: One, if there has been an increase in the number of dependants due to marriage or the birth of a child; two, if liabilities, such as a home loan, have increased; and three,