Finances and Insurance

People often talk about topics related to finance and whenever it is discussed insurance is also an important component that we cannot avoid. With insurance, we try to achieve financial security and different plans can be availed with certain benefits. For example, one can buy life insurance or the term plant depending upon the need which can be an investment or the solution to deal with unexpected situations in life.

Some people think that investment can be done with different components and insurance is not the right product for that but some also have different opinions. I believe that if your goal is for the investment then insurance is surely not the right solution instead many other instruments can be availed to bring better returns on the investment. while this may not be a good solution for the investment to deal with unexpected situations it can be a good solution. For example, the term plan is one of the best solutions I would say and everyone needs to have it because life is uncertain and this product can help in those scenarios.

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with the term plan we can get a higher sum assured and the premium is also not going to be so high but yes ageing is one of the factors that play an important role in the premium calculation. this plan is more like financial security in life if something goes wrong because we cannot predict how things will be in future and with such products we can at least have some stability in place to deal with sudden expenses in life.

Although I believe that financial management is a bigger topic to discuss so many parts and components are part of it. Insurance is just a subject and there is a lot that should be discussed in detail for proper financial management. We need to plan multiple things in our lives to achieve proper financial management including insurance some surplus amount and a better investing plan to achieve better returns after certain years.

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