Both spouses working:

It is the time to rethink your investment strategy and consider the need for protection. With a change in your cash flow patterns, decide on your priorities and assign preferences to short and long-term needs and goals. While you are in a better position to invest in wealth building instruments, you also need greater protection, in the form of ULIPs, endowment plans and term plans, since you now have greater responsibilities. A financial plan with a combination of investments and insurance products is essential.

Single spouse working:

A carefully drawn financial plan which addresses the various protection needs is essential, as it will also help you to provide for your future family.