In this video, we focus on two distinct financial products: term insurance and an investment cum insurance product.
We begin by examining term insurance, which offers two different premium payment options. The first option involves paying a higher premium for the initial 15 years, followed by 17 years of not having to pay a penny. The second option allows you to pay a lesser premium for the entire duration of 32 years. We break down the advantages and drawbacks of each payment structure, enabling you to determine which option aligns better with your financial goals and constraints.
Next, we dive into the realm of investment cum insurance products. While these products promise a combination of insurance coverage and investment growth, we reveal how they often deliver subpar returns compared to other investment avenues such as fixed deposits (FD), index funds, or gold. Through in-depth analysis and comparisons, we empower you to make an informed choice when considering these investment cum insurance products.
Furthermore, we provide you with a comprehensive framework and calculations to identify potential red flags and assess the long-term implications of various financial products. We discuss the concept of opportunity cost, shedding light on the trade-offs involved when choosing between different investment options.
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How to choose a term insurance
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Boosan
14 июн 2023
