Paucity of time and lack of information often lead us to take risky financial decisions. Here’s a savvy and quick way to make your insurance decisions for the upcoming financial year.
Insurance policies, fixed deposits, provident fund schemes and more such terms are a part of our growing up years.
All of us have grown up listening to endless discussions on which deposit gives the best returns and which insurance policy works best for the family.
As an intelligent adult who is new in the job market, it’s difficult to understand the concept of investing in something that may not give immediate returns. Besides, the task of identifying the right policy is daunting enough to keep us away from it.
To start with, what does life insurance do for us?
Not just the job market, life in general is uncertain. A life insurance ensures that the dependents are taken care of in case of the death of the policy holder or the bread winner of the family.
There are options where the sum assured is given to the policy holder at the end of term or after death to the beneficiaries. There are other options where a portion of sum assured is given during the term in parts on a set frequency. Some insurance policies also offer a unit linked plan that serve the purpose for investment and security.
See full story at economictimes.indiatimes.com