Facts:
My DOB: August, 1978 (Still not 45 yrs of age)
My Wife DOB: April, 1976 (~ 47 yrs old)
Son DOB: February, 2005 (>18 yrs old)
Daughter DOB: March, 2012 (~11 yrs old)
Me and my wife have Bajaj Allianz term insurance policy of 1 cr each. I additionally, have 50 lacs PLI.
We also have a family floater heath insurance 50 lacs SI that has become 1 cr now
Questions:
I need to enhance my term insurance by 50 lacs and my wife term insurance by 1 cr.
I do not know if getting term insurance for children is a right thing or not? And, if yes, what shall be the amount?
Me and my wife want to get critical illness insurance for 50 lacs.
I do not know if getting critical illness insurance for children is a right thing or not? And, if yes, what shall be the amount?
Me and my wife want to get accidental disability insurance for 50 lacs.
I do not know if getting accidental disability insurance for children is a right thing or not? And, if yes, what shall be the amount?
Me and my wife want to get cancer lumpsum critical illness type of insurance for 50 lacs.
I do not know if getting cancer lumpsum critical illness type insurance for children is a right thing or not? And, if yes, what shall be the amount?
Can these all be clubbed? Can a family floater type of insurance happen with the above requirement for all? Or, do I have to take individual insurance separately for all 4?