April 13, 2014 3:20 pm
I see channels like CNBC, NDTV profit etc. Recently I have seen experts don’t recommend LIC now. Why is that?
They recommend term insurance now.
Dear Niki, if it’s raining outside, w’d you purchase an umbrella covering only few inches of head but offered to payback amount later on, if no rain, another umbrella covering your head only but again offering some money back for no rain and then another umbrella covering your whole body but no money back in case no rain happens?
Please inform me your choice.
The reason is in the difference between endowment plan and term plan.
The difference between investment and insurance.
Suppose I say, get insured as per your liabilities, what would you do? Go for endowment plans or term plans?
Note: I am not saying one is better than other. The answer lies in your needs. If you are comfortable paying huge sum for insurance, then the endowment plans are for you. If not, get term plan. It is not the product, it is you.
Your email address will not be published. Required fields are marked *
Please subscribe me to your Email Newsletters
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Download Our FREE Ebook!
Available only for first 100 people today
New here? Create an account