Life Insurance

If there are people who can't afford to lose you, you should buy life insurance. Don't put your people at risk unforseen. The benefits of insurance are not, of course, immediately obvious. Rather, insurance is purchased on the off chance that something unfortunate will happen.

Insurance is one of the most important financial topics in today's complex world. Failure to have sufficient insurance coverage is the quickest and easiest way to accrue mass debt. Nothing will make your business, car, house, family, or self more vulnerable or susceptible to financial strain than a lack of adequate insurance. However, paying too much for insurance can be a financial strain in itself.

And paying for insurance that is not needed is just money down the drain.

The cheapest and most basic, this is a no-frills life cover that should be one of your first financial instruments. Being a pure insurance policy, it does not return your money if you survive the policy term.

Most term plans provide coverage until 60–65 years of age. Few even offer plans until age 75. As there is no surrender or maturity value in these, you should settle for the one with the lowest premium and the longest term.

Think of insurance as "hardship avoidance," not "convenience" or "hitting the jackpot." Contrary to some common perceptions, insurance is not a rip-off. For most people, it is a necessary and valuable financial service.


  • Keep the Highest Possible Term
  • Keep the maturity age as long as possible.
  • Talk to 4–5 insurers or visit their websites to get premium rates.
  • Choose the Plan That Has The Lowest Premium At Your Parameters.
  • Undergo medical tests, if required.
  • Keep the nominees informed.
  • Pay premiums every year.