Is Insurance a Must or a Choice for everyone?
We all think Insurance is for old age and though planning should begin with insurance, most of us do not realize the need for it. This may even be a harsh reality or a bitter truth, but most of us prefer insurance just for the sake of Tax planning. The fact is that insurance is not for us, it’s for our family.
Financial planning without insurance is futile and so investment and insurance are two different concepts. Further both complement each other and the key for wealth creation lies in finding the right balance and also securing the future is as important as investing for it.
Presently when investments are shifting to the online platform and all the receipts are delivered in email account, the world of insurance has changed too. You can buy insurance at the click of a button. Insurance are of two types namely Life and Non-Life. Life Insurance plans include endowment, whole life, term plans and ULIPs. Among non-life insurance, health plans are the most common.