Please advice me - how to make my insurance portfolio?

[Got_the_Best]

I am a NRI, aged 35 years. I have total 25 lacs of life insurnace cover (Rs. 10 lacs in term policy and Rs.15 lacs in LIC moneyback policy) and recently started HDFC Top 200, monthly SIP with Rs. 1 lac per year. My salary is two lac per month. How much cover I need to cover my self adequatly? I have 8 months old son. I feel that I need to cover myself for minimum of Rs. 50 lacs. Please advice me - how to make my insurance portfolio?

[>take]

Minimum life insurance should be 10 times of your annual income, so in your case it would be 12X2X10= 240,00,000. You can also check here - http://www.policywala.com/hlvcalculator.php and http://www.policywala.com/lincalculator.php for exect amount. You can opt for term insurance to fill the gap.

[Got_the_Best]

Thanks >take for your advice!
Do I need to buy online term plans to cover the gap? Which plan do you recommend?

[>take]

Thanks >take for your advice!
Do I need to buy online term plans to cover the gap? Which plan do you recommend? Online term plans are not for NRIs. So go for normal offline term plans. But in these plans you need to undergo medical tests if you are opting for large Sum Insured. For this I don't know how you will deal with it? So please check with customer care of the insurance company before buying.

[Got_the_Best]

Thanks again >take. I will check all the points mentioned by you.