Is it beneficial to take term insurance? I have heard that as such not much return is received except the death benefit? What is experts view on this?
6 Replies
Prachi Bansal
(3129 Points)
Replied 07 April 2021
Can you please list down some benefits I will get by investing in a term insurance plan?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 07 April 2021
I think these are capital guarantee products and redeemable. Generally, ESI is enough if term insurance is not redeemable.
Prachi Bansal
(3129 Points)
Replied 08 April 2021
They do guarantee capital return in full but what about the inflation too? Because of the inflation in the long run the value of the money is decreasing only? So what benefit apart from capital guarantee will I get?
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 08 April 2021
https://www.policybazaar.com/life-insurance/capital-guarantee-plans/
Yes you returns will be effected. These capital guarantee products will give family coverage plus the company invests them in a portfolio. Due to inflation, returns are nominal and not real.
Prachi Bansal
(3129 Points)
Replied 13 April 2021
Yes, definitely the returns are very nominal and not even real in a term insurance plan. It is better to invest in a life insurance plan only according to what the benefits of it are.
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