Health and life insurance: how much cover do you need?

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Health and life insurance: how much cover do you need?
News from Hindustan Times:

If you are planning to buy a life or health insurance policy and are not sure how much is enough, here is a quick guide to help you out. Life insurance


The general thumb rule says that you should not have less than 8-10 times your gross annual income as life insurance cover.

So, if your annual gross salary is Rs 1 lakh, then you should take  R8-10 lakh insurance. Anything less means you are under-insured, which means in case of your death, your dependants may not have adequate funds. Keep in mind that while going in for a life insurance policy, a term plan is the best bet.

Health insurance

There is no thumb rule to guide you about the amount of health insurance you need. Financial planners say that keeping in mind the average cost of major surgeries these days, a cover of R4 lakh is good enough. Also, if you are covered by your employer for say Rs 2 lakh, you can go in for an individual health policy of another Rs 2 lakh, provided that you work at a reputa…………… continues on Hindustan Times

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Life insurance to develop in Armenia related to pension reforms
News from Arka News Agency:

Life insurance to develop in Armenia related to pension reforms

YEREVAN, November 26. /ARKA/. Life insurance, of course, will develop in Armenia, but the question is when it will happen”, said first Deputy of Executive Director of the insurance company “INGO Armenia” Arevshat Meliksetyan.
“Now, when Armenia moves to multi-level pension system, its introduction is difficult to imagine without life insurance”, he said in his interview to ARKA News Agency.
The process of pension reforms started since January 1, 2011 in Armenia through the introduction of volunteer accumulative pension system. From January 1, 2014 accumulative pension system will be introduced in mandatory order where the citizens born after January 1, 1974 will be included.
Meliksetyan said that life insurance is the type of insurance which by the volumes of insurance premiums makes 65-70% worldwide.
“In other works, the world pays more for life insurance t…………… continues on Arka News Agency

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November 2011
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