Term Insurance: till what age?
Have you ever wondered….”I know I have to take Pure term life insurance..but till what age should I take it? 55 or 65 years?
I realize it is a slightly improper understanding of the problem. Term Insurance is meant to fill the gap between what you have already done and what you totally need. So if you have Rs. 90 L of your own and you need Rs. 1.5 cr for meeting all your goals, that means you have a gap of Rs. 60L. So you need a term insurance of Rs 60L.
However it is not so easy, and there could be complications – so to sort all this, let us say he takes a policy for say Rs. 1 crore. ….Read on..
here I said the same thing..on the YouTube channel…
https://www.youtube.com/watch?v=ilkIqBP2jjM&pbjreload=10
Srijan R Shetty
Thanks Subra for pointing this out. I’ve had multiple debates with people asking why I have such a short term for my term insurance. It’s difficult to explain that I have a target amount that I want to leave behind for contigencies and the term insurance is used to cover up that amount.