Retirement & Financial PlanningSep 9, 2016•1 min read
A Mistake Too Many Indian Investors Make
It's great to make investments that earn big returns, but not having term insurance to protect your family is a common and costly oversight.
Tejas Shah
Proprietor of Silicon One and Silicon Systems, AMFI-registered Mutual Fund Distributor since 2004, based in Vadodara.
It's great to make investments that earn you big returns, but it's not so great to not have term insurance to protect your family's future in case you are not there to take care of them. Unfortunately, not taking term insurance is a money mistake that far too many Indian investors make.
The great thing about term insurance is that it costs very little — you can get cover equal to ten years' income for no more than 1-3% of your annual income. Term insurance is not an investment, it's simply protection, and one should be glad to never need a payout. But if the unmentionable does happen, the "returns" are greater than for any investment. One can be excused for getting a lot of things wrong in personal finance, but term insurance is not one of them.
#mutual funds
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