Personal Finance

Spend less than you earn, invest the rest

Novice

Mastery0%

Novice

Note. Education, not financial advice. Tax rules, regulations and product specifics change, for real money decisions, talk to a SEBI-registered advisor whose incentives don't depend on selling you a product.

Concept 08 of 19

framework

Insurance: term + health, full stop

Pure term life (if anyone depends on you) and proper health insurance. Avoid anything that mixes insurance with investment.

Definition

A protection strategy that uses pure term life insurance to replace lost income for dependants and a separate indemnity health policy for medical costs, deliberately avoiding bundled products that mix protection with investment.

Step 1

Predict first

In one or two sentences, what do you think this concept means? Wrong is fine; the small struggle is what makes the answer stick.