# SEBI quiz helps check your financial health in insurance, debt, retirement 2026-09-20T18:21:37+00:00 | Governance | Indian Opinion Desk Corroboration: 1 independent outlet SEBI has created a Financial Health Check quiz that helps individuals evaluate their financial habits across insurance, savings, debt and retirement planning. The quiz begins by asking if anyone depends on your income and whether you have adequate life insurance cover of 15 to 20 times your annual earnings. It recommends term insurance with dependents as nominees if the cover is insufficient. The quiz also checks health insurance coverage, suggesting a minimum personal cover of Rs 5 lakh or half your annual income, whichever is higher. For those with only employer insurance, it advises considering personal cover at the same level. Existing policyholders are encouraged to consider a super top-up for additional protection. Other areas covered include emergency savings of at least six months of expenses, credit card bill payment habits, personal loan debt, EMI-to-income ratio, budgeting, retirement planning, nomination and will preparation. The quiz warns that credit card interest rates can be around 40% annually and advises clearing unsecured loans quickly due to high rates. ## Indian Opinion Analysis Most Indians lack adequate life and health cover. IRDAI data shows the country's insurance penetration was 4% of GDP in 2022, well below the global average. The SEBI quiz's focus on a cover of 15-20 times annual income aligns with standard industry advice, but a 2023 NSO survey found over 80% of Indian workers have no life insurance. The quiz does not address how to fund such cover on a tight budget. Users who identify gaps may need to consult a SEBI-registered investment adviser for a concrete plan. The quiz is a starting point, not a full financial plan. For busy readers, the concrete next step is to take the quiz on SEBI's website and then schedule a meeting with an adviser if any gap emerges. ## Coverage - livemint.com Tags: debt management, financial literacy, insurance, retirement planning, SEBI Canonical: https://indianopinion.org/sebi-quiz-helps-check-your-financial-health-in-insurance-debt-retirement/ License: Summary and commentary (c) Indian Opinion, reusable with attribution. Facts belong to the linked sources. Cite: https://indianopinion.org/sebi-quiz-helps-check-your-financial-health-in-insurance-debt-retirement/#story-in-brief