What percentage of your income should you spend on insurance?
Wednesday, May 10, 2017, 3:59 PM
Most people make the mistake of mixing insurance with investment/savings. Instead of opting for low-cost pure life protection, they pack their portfolios with traditional plans and pay heavy premium every month. This leads to stressed finances. So in order to avoid this, one should always make sure that premiums on traditional plans and ULIPs do not exceed 6-7% of your total income.