How to set primary financial goals? Which is the right Mutual Fund to invest in? Should you look for nomination, or a comprehensive and structured power of attorney? Life Insurance or term insurance? If you’re plagued by these questions, then fret not, because finance guru Gaurav Mashruwala is here to help.
For this episode of ‘Dhan Ki Baat’, the personal finance expert shed some light on how to pick a life insurance plan that is perfect for you.
In India, people tend to buy insurance policies under pressure from their neighbours or family members – this is reflected in our advertisements too.
While insurance is usually perceived as something that is required to secure a child’s future, or that of an elderly family members, Mashruwala suggests that sole-breadwinners should always buy insurance policies, as family members remain entirely dependent on their income. In cases where both spouses work, then both should get life insurance plans. The idea is to ensure financial stability for the family, should there be any disruption in the flow of income.
Mashruwala also gives tips on how to choose from the large variety of plans in the market.
(Have finance-related queries? Send in your questions and join the discussion at dhankibaat@thequint.com)
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