I have been recently married and want to re-plan my finances.
I am currently employed in a bank and get a health insurance of 4 lakhs from my employer.
I have Term insurance of Rs. 1.00 crore with accidental death insurance and critical illness rider.
My other savings are as following –
sip of total Rs. 8000/- per month
Rs 2000 in IDFC Premier equity (Since 2014 ) and also Rs. 2000/- in same mf direct option since (dec 2015)
Rs 2000 in ICICI focused blue chip (since apr 2015)
Rs 1000 each in HDFC Equity and HDFC Balanced fund ( both since 2011)
Had sip in HDFC top 200 but now closed investment amt Rs. 1.2 lakhs
Rs. 50000/- each year in HDFC tax saving and HDFC long term advantage fund.
We wish to buy a home in next 4-5 years and need a corpus of about 50 lakhs.
do i need to buy more medical insurance or some top up plan.
Need to advanced plan for our future kid.
I can save Rs. 3000-4000/- each month and if needed can squeeze more saving up to Rs. 3000/-.
Would be grateful if you can and any thing more.