RECOMMENDATIONS

EMERGENCY FUND:

The present savings account balance can be maintained and additionally an FD of ~2 lakh can be maintained for an emergency.

Life Insurance:

Keith needs an additional cover of ~56 lakh, while his wife needs to take a cover of ~25 lakh. Term plans for a 30-year duration will cost them ~12,000 a year, approximately.

HEALTH INSURANCE:

They need to take a separate ~3 lakh floater health plan, for which the premium will be around ~7,000 a year.

ACCIDENT INSURANCE:

A personal accident policy of ~25 lakh, with ~5 lakh as temporary total disability benefit, is recommended for Keith. For Asha, the PA cover should be ~10 lakh. The total premium will be ~4,500.