I am 35 years old. If I have accumulated 25 times of my take home salary or 40 times of my yearly expenditure, do I need a life insurance cover? I don t see any need. I have a few life insurance covers. I think I should close them.
- Suresh Mohapatra
If you believe you have enough money to take care of your financial liabilities and the needs of your dependents, you can think of getting rid of your insurance covers. If you have ULIPs or Endowment plans, you should look at their current status and find out how much money you will lose if you stop the policy. You should also consider the taxation angle. If you are okay with the monetary loss, you can go ahead with your plan.
If you want to assess your insurance needs, you can check this link. Calculating Sum Assured.
Ask Value Research 
New episodes every Friday 
New Process Alert 
Seems like you've uploaded a wrong QR code. Please upload the QR code downloaded from MF Central platform.
