4 Reasons Why You Must Have A Term Life Insurance Plan Before You Start Investing

It protects your family till you save enough
Till you save enough, your family remains financially vulnerable in your absence. Your family might find it difficult to meet regular expenses and important future needs like child’s higher education. Term plan provides the adequate protection your family needs.

Prevents premature exit from investments
In the absence of adequate life insurance, your family will have to fall back on your existing savings. Many of the premature exits from investments would be at a loss. This could jeopardise many future needs like child’s higher education. These investments are protected when your family is secure with a term plan.

Ensures family security along with growth investments
With the knowledge that your family is secure, you can venture out with less apprehension to investments which require you to take higher risks for higher, long-term returns. Investments in equities either directly or through mutual funds or life insurance products, are a typical example.

Low cost premiums leave you with more investible money
Term plans are the lowest cost life insurance plans that provide the highest coverage. This means you have much more left at your disposal to invest after ensuring adequate protection for your family.

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