Prajna Capital - An Investment Guide

EVERYONE talks about the importance of being insured. While the debate is pertinent, are we also being taken for a ride by some insurance agents? Today the insurers offer a suite of products which talk about covering every walk of your life. While many are nice to have, the relevant question would be to arrive at the must-haves. This article gives you a run down of the ideal mix of insurance policies that is the need of the hour. 1) Term insurance If you are young and unwilling to make big financial commitments -go in for a pure term cover. It would provide basic risk protection for a period ranging from five to 20 years or even more. The sum insured will be payable to dependants on death of the policyholder. But if the policyholder survives till the maturity of the policy, there are absolutely no monetary benefits. How to take a term cover? You can take a policy at a young age; it works to your advantage. Premium at this stage is lesser and it is fixed throughout the tenure of the po...