You are single, energetic, in your twenties and have just kick-started your career. With the newly acquired financial independence, most of you feel more inclined to shop, travel and enjoy life.
However, it is important to note that this is also the best time to take higher risks as there are least financial responsibilities.
Your Insurance Needs
- Saving for future expensesWhether for making a down-payment for your home or for your marriage, you need a savings plan to build a corpus for your future needs.
- Tax PlanningNow that you are earning, you wouldn’t want your hard earned money to just flow out of your hands.Tax planning is an important aspect of financial planning and you should draw the maximum tax benefits that investment products offer.
- Securing your parent’s healthGiven their age, your parents would be vulnerable to ill health and therefore you need to plan for their medical needs as well.
Curated from Insurance Needs of the Young & Single