Has anybody taken a whole life insurance?
Whole life insurance policy is not well known in India, especially a participating one. I’m trying to the understand the benefits, the review of the provider, riders and more.
If you have one, please comment and let’s discuss. It’ll be a chance to bring awareness as well.
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Avoidable unless you have a dependent who will always be dependent on you (partner who will never be able to earn, special children or parents)
Take a term life, till 75, and by then get a decent asset base for future.
Alternative, do a IRR analysis to conclude.
There are two insurance that anyone should ever take (except for material things)
- Term insurance
- Medical Insurance
All the rest are bs the max return that some other random insurance gives is that of 6/7% that doesn’t make sense at all. Invest your money somewhere else wisely!