As your liabilities increase, you will not have to augment your cover at a later date
Here's how to protect your finances during these difficult times and work on your short- and long-term financial goals efficiently
The sale of term plans gathered pace only over the past four-five years
Term plan premium rates have fallen, but poor health can be an obstacle
Calculate life cover by taking goals, expenses and spouse's retirement needs into account
However, the city isn't financially geared to deal with critical illnesses as 54% of its people feel their savings would last less than a year in case any such ailment struck
While it doesn't offer any returns, it helps you cut down outgo to a great extent while offering a much higher cover than any other life insurance plan
Whole life plans are being mis-sold as term plans because insurers and agents are unable to earn margins
While decreasing sum assured and structured payout options are handy, most other variants serve little purpose
Easy on your pocket, a term insurance plan offers dual benefits for policyholders - protection and tax savings at the same time.
If you are found to have a condition like obesity, diabetes, the insurer may increase the premium