Can you explain the term insurance?

Answer 1

One of the musts in ur insurance kitty is term plan.

y??

They offer u high insurance value at little cost..example : insured of Rs 20 Lakhs (as we had discussed in previous post) costs u only 5722 Rs per annum, while a money back plan costs u a whopping 67000.

So y is the term plan so cheap..the flip side is..if u happen to survive the insured period (say 25 yrs), u dont get a dime back.that means an amount of (5722*25) 1,43,000 goes down the drain.

So shud u go for it?????????? Ofcourse..there is no doubt about it..It is mandatory..the low costs outweigh the negatives.

Source:

http://learningsofanamatuerinvestor.blogspot.com/search/label/term%20insurance