Readers' corner: Here's how to change nominee in insurance policy

Readers' corner: Life insurance

Next month I will turn 50. I do not have a term plan. Does it make sense for me to opt for one at this age? How should I decide on the duration of the policy?

Term plan is a must for any individual who is earning. Assuming that you will work for another 10 years, a term plan would work as the best option for you to replace lost income in case of uncertainty. A term policy is one of the most cost-effective methods to mitigate risk, safeguarding your major financial commitments. Ideally, one should have a term life cover