Human life and property are vulnerable to risks. These risks can lead to loss of income and put you and your dependents in a financial jeopardy. Similar to investing for wealth accumulation, ensure wealth preservation through insurance.
Buying a ULIP is not all. You end up paying more and remain inadequately insured. Instead of this, a term insurance plan will be a wiser proposition to buy. Term insurance plan provides you higher risk coverage at a reasonable price.
Don’t expect returns from your life insurance policy. Ideally, the sum assured needs to be at least 10 times your annual income. Before buying life insurance, you can compare policies online to select the one which satisfies your requirement at affordable prices.
Apart from life insurance, you may need a health insurance as well. It will enable you to access high-quality healthcare at reasonable prices. Don’t end up shelling out more for less.
