People do not like to invest money in term insurance just because it is a kind of insurance policy which does not give you any return when you are safe. We feel like we lost of our money and generally tend to dislike this kind insurance policies. It is in fact a thought with out proper evaluation. We shall understand that the money invested in term insurance is small to get a very high risk coverage. It will help you and your family in bad times. You can invest your remaining ways in a more systematic and productive way and get better returns.
You shall understand that with the money you saved with out investing in term insurance policy, you can hardly survive for two or three months after you have crossed say 60 years age. It means with a small investment, you are going to get a high risk coverage for entire life and when ever things went wrong, your family members get a good financial support.
We do think that the money invested in term insurance is waste just because we are emotional with money. Just because of this we fail to see the advantages given by the policy and only bother about the money that is lost to the insurance company.
We also believe that we had sound health and there is no problem in the near future. This approach is not correct. Bad things wont come to us with prior information and you shall be prepared for it.
You shall not mix term policy with any other kind of investments as it is to give you protection with lowest investment. Investment in ULIP shall not be compared with this kind of policies as they are supposed to give you a good return. And they charge initially very high for the sake of maintenance.
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You shall understand that with the money you saved with out investing in term insurance policy, you can hardly survive for two or three months after you have crossed say 60 years age. It means with a small investment, you are going to get a high risk coverage for entire life and when ever things went wrong, your family members get a good financial support.
We do think that the money invested in term insurance is waste just because we are emotional with money. Just because of this we fail to see the advantages given by the policy and only bother about the money that is lost to the insurance company.
We also believe that we had sound health and there is no problem in the near future. This approach is not correct. Bad things wont come to us with prior information and you shall be prepared for it.
You shall not mix term policy with any other kind of investments as it is to give you protection with lowest investment. Investment in ULIP shall not be compared with this kind of policies as they are supposed to give you a good return. And they charge initially very high for the sake of maintenance.
Related Post
Reduce your life insurance premium and save your money methods
Life insurance for age above 50
What is the need of life insurance
How to reduce your life insurance premium tips and tricks
Common mistakes while taking insurance for over 50s
Need of Life Insurance for age above 50 years
Ways to get free life insurance quote online
Employment Insurance for you
Different Life Insurance options for old people
Life Insurance and Investment Strategies
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