Term Plan

Hi, 1 - Suggest you to kindly build your Emergency fund on a priority basis (if you do not have one). Kindly read : https://www.relakhs.com/emergency-fund-importance/ 2 - Consider buying an adequate life cover through a Term insurance plan (term plan for self, if employed,else you may advise your husband to buy one), and also a Personal Accident cover (stand-alone). Kindly read : https://www.relakhs.com/insurance-importance-life-health-accident-covers/ https://www.relakhs.com/best-online-term-insurance-plans-india/ https://www.relakhs.com/best-personal-accident-insurance-policies-in-india-details-comparison/ 3 - Once adequate life cover is bought, you may discontinue/Paid-up the LIC traditional plans (traditional plans) and divert this premium in buying a family floater health insurance plan (if you do not have one).  LIC Wealth plus is an ULIP, which you may hold on to its maturity (2018). Kindly read : https://www.relakhs.com/traditional-life-insurance-plan/ https://www.relakhs.com/term-insurance-plan-a-waste-of-money/ https://www.relakhs.com/best-family-floater-health-insurance-plans-details-checklist-comparison/ 4 - You may avoid buying Child plans.  5 - You may start investing in Equity oriented funds for Kid's education goal. Kindly read : https://www.relakhs.com/investment-planning-investment-plan/ https://www.relakhs.com/calculate-kids-education-goal-amount/ https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/ https://www.relakhs.com/personal-financial-planning-articles-list/      

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