Life Insurance Need Analysis Stage II Newly Married

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Obama's stimulus plan a key trigger for global economy
Expect continued weakness in crude oil prices
China's oil demand fell by 500,000-600,000 bbl Oct-Nov
Global crude demand would continue downward trend
HOV Services to consider buyback on Jan 13
Fiscal stimulus to help with liquidity
Demand and customer sentiment down sharply
Move to encourage banks, MFs to lend more to NBFCs
Expect to borrow against rated CPs from RBI
Need a large fiscal stimulus for economic revival in 2009
More earnings downgrades, target cuts by analysts
Scope for more rate cuts as inflation trending lower
U.S. economic data seen -ve for coming months
Should agree to a standstill if shareholders reject offer
Offer < $10.25 Sun paid for Brandes' 8% stake in Taro
Proposal contemplates a full cessation of litigation
Prepared to conduct a shareholder referendum
Taro shareholders to vote, yes or no, on a merger
Crude trading in red, trading around $48/bbls
U.S. equities fell for the first time in 4 days
S&P500 financial index fell 2.5% yesterday
Dow Jones down 0.9% at 8950 levels
Asian markets trading mixed with positive biased
Incentives for projects larger than Rs.1000cr: Guj Govt
Sensex closes up 317 pts; Nifty up 74 pts
CNX Midcap Index & Smallcap Index up over 1% each
BSE Bankex up 3.5%, BSE Metal up 5.5%
Govt to tackle proposed oil officers' strike from Jan 7
Contempt of court action to be against striking officers
Strike will hit operations of aviation sector the most

Updated: 23/01/2008 | 05:12 PM IST

Personal finance

Life Insurance Need Analysis-Stage II- Newly Married

Getmeinsure

Wednesday, January 23, 2008 (Mumbai)

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Life Stage Analysis

Your are between the age of 26 and 35 years.
Married and have Dependents.
Double Income with or without Kids.
Might have taken some Loan i.e Home Loan, Car Loan etc.
Have a high Expenditure.
You may need effective tax planning.
Might have started some Investments in Equity or Mutual Funds.

Your Financial Needs Analysis

Have a high Debt Repayment through Installments i.e EMIs
May want to save for Children’s education or Marriage.
You need to Financially protect your Family and Dependents from unfortunate events.
Your elderly parents also need financial support from you.
Start saving for your retirement

Insurance Solution

This life stage is very crucial in your life and you would require a maximum Insurance protection because of High Debt Levels ( such as Home Loan, Car Loan or personal loan etc.) , Higher Expenses towards maintaining present life style and more numbers of dependents.

1) You can choose from Term Insurance Policy or a Whole Life policy.

2) A Insurance Rider such as Accidental Assurance, Critical Illness and Long Term Disability Insurance must be clubbed with the Insurance Policy.

3) If you have taken a Loan then you should consider taking a Insurance Policy that would take care of your Loan in case of an unfortunate event.

4) You can also start Planning your Retirement.

5) Some Endowment Assurance Policies can also be considered as an Investment Tool.