The Economic Times

Should I increase my term insurance cover of Rs 75 lakh and health insurance cover of Rs 10 lakh considering inflation?

ET Wealth Reader's Query: I am 38, a salaried professional earning Rs 22 lakh annually. My family includes a spouse and a 5-year-old child. I currently have a Rs 75 lakh term insurance policy and a Rs 10 lakh family floater health cover. Is my term cover adequate, or should it be increased considering inflation and long-term goals such as childs education? I want to ensure my coverage is adequate but not excessive.