Let us analyse your queries one by one : 1.Whether you should take a separate health insurance? This depends on what kind of insurance cover your company is providing you.Is it enough to cover any kind of medical expenses? How much cover they are providing ? If the insurance cover by your Co.does not seem adequate,then you should consider taking a separate health insurance plan. 2.Putting some of your money in Fixed deposits and Liquid funds are 2 ways to invest money to meet your short term goals. You are already investing in PPF,so if you can afford to take some risk,investing in Mutual funds is a good way to grow your money.Seeing the rising inflation,mutual funds can beat inflation in the long run. Debt funds are safer than equity funds.The kind of investment you make is based on your age,your risk appetite and investment horizon. ELSS is also good investment option with a minimum lockin period of 3 years.However,based on past data,ELSS normally performs well if money is invested for longer duration. Hope this clarifies ! For any further queries,feel free to ask.