5 reasons why people invest in insurance

Don’t mix insurance and investments – most financial advisers, who don’t have any conflict of interest will suggest that.¬† You end up doing injustice to insurance as well as investments in that case! Yet insurance continues to be a popular investment. What are the reasons why people “invest” in insurance products?

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When buying life insurance doesn’t make sense?

Getting a term life insurance is one of the initial steps towards planning your financial life well. And rightly so. A good insurance cover can help manage financial risk that your family can potentially face in case of a breadwinner’s death. In case of death of the insured person, the family is paid a certain amount (sum insured) by the insurer. In return, the person buying the insurance policy has to pay a certain fee to the insurer – called premium.

Counter intuitive it may seem, but life insurance is not sacrosanct. It is not always necessary to have a life insurance cover. Here are few situations, where buying a life insurance  policy may not make sense.

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How much term life insurance should you have?

For a novice, understanding life insurance can be like navigating a maze. It is often confusing to choose from the plethora of life insurance options that are available. Some “experts”/ salesmen say that you should buy endowment plan or money-back plans. Some say, go with plain vanilla term life insurance. How do you navigate this […]

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