 "Insurance")
Life insurance products fall into three broad categories—endowment plans, unit-linked insurance plans (ULIPs) and term plans. While endowment plans and ULIPs are hybrid products that combine both insurance and investment, a term plan is a pure insurance product. It is much cheaper than ULIPs and endowment plans. Since it is advisable to keep insurance and investment separate, a term plan should be your first choice among insurance products.
Who needs life insurance?
Life insurance is meant to replace a person’s income in case of his untimely death so that his family, if it is economically dependent on him, is not
