Readers' Corner: Life Insurance

I am a 30-year-old professional earning Rs 1.2 million a year. I got married two years ago and am thinking of buying a term plan. But I am unable to decide the duration and amount of cover. I am also unsure if term plan will be enough to protect my wife's financial security. The primary objective of a term plan is to act as an income replacement tool. It eliminates the financial burdens of a family in case of an untimely death of the earning member. Hence, it is always prudent to opt for a term plan until your retirement age. Ideally, it is 60, for which you will need to opt for a 30.....

Key stories on business-standard.com are available to premium subscribers only.

Already a premium subscriber?

Subscribe to get an across device (Website, Mobile Web, Iphone, Ipad, and Android Phone applications) access to Premium content, Breaking News alerts, Industry Newsletters, Stock and Corporate news alerts, access to Archives and a lot more.

Most Read

Top Stories

Markets

Companies

Opinion

Latest News

Todays Paper

News you can use

Outbrain