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Reetika Sharma |628 Answers |Ask -Follow

Financial Planner, MF and Insurance Expert - Answered on Oct 04, 2025

Reetika Sharma is a certified financial planner and CEO of F-Secure Solutions.
She advises clients about investments, insurance, tax and estate planning and manages high net-worth individual’s portfolios.
Reetika has an MBA in finance from the Institute of Chartered Financial Analysts of India (ICFAI) and an engineer degree from NIT, Jalandhar.
She also holds certifications from the Financial Planning Standards Board India (FPSB), Association of Mutual Funds in India (AMFI) and Insurance Regulatory and Development Authority of India (IRDAI).... more

Asked by Anonymous - Sep 30, 2025Hindi

Dear Sir, Pls answer my question.. I am 45YO and my wife 40YO(home-maker) and only Son 3YO. Working in UAE. Considering the Job only 15 years are left for retirement. By the time I am 60YO, my son will 18YO. I am not able to save much due to lots of expenses. As life is unpredictable; Is it advisable to take term policy for both(me and my wife) of us Like 1Cr:1Cr for each or should I take 1.5Cr:50L or 2.0Cr:Nil? Really stucked in this...!

Ans: Hi,

Term insurance is a necessity these days. You should take 1.5 crores term insurance for yourself. As your wife is a home-maker, it is not required for her.

Also as you said you are unable to save due to expenses, start investing even by a small amount in mutual funds. Slowly this habit can build a great fortune for your family. Choose a largecap & a multicap fund to start your investment.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Asked on - Oct 04, 2025 | Answered on Oct 05, 2025

Thank you Madam, for your valuable guidance.

Ans: Thank You.
You can connect in case you need any other guidance.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

Asked on - Oct 15, 2025 | Answered on Oct 15, 2025

Dear Madam, I agree with you, to take term insurance for myself. But as I have mentioned, I am unable to save much even though I earn 2.25L approx pm in UAE due to over burden of personal loan, which I had to take due to I lost my 5-6L in US trading invested from credit card. For which was unable to pay due interest went on increasing. So I had to take PL to close these credit card loan. My confusion is taking term life for myself. If I take Term Insurance for myself, it will help my family after me..right? But If I take Term Insurance for wife (homemaker), even though it will help after her. Pls guide me on this. What is the benefit for taking term insurance only for me and not for my wife, beside permium payout.

Ans: Term Insurance is to safeguard your family in case something happens to you. The money received from the insurance will be kind of income replacement in the lives of your family so that they do not face any financial difficulties.

As you mentioned you have debt, it is important for you to select MWP - MArried Women Protection ACt in your insurance. This will make sure all money comes to your wife instead of your lender.

Also as you are tight on expenses, why do you even want it for your spouse? This insurance is actually for earning members so that if anything happens to them, their family doesn't suffer financially. As your wife doesn't earn, you do not need this for her as no one will suffer financially if anything happens to her.
Take it for yourself.

Hope you get some clarity now.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

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