Innovations and Complications in Term Insurance

Group of people holding umbrellas

Few days back I got a call from a friend and she asked me that she wants to buy a Term Insurance of XYZ Co. as it would give her a life cover till 75 as against ABC Co. which insures her only till 65. I asked her why she insisted on getting insured till 75. She said, “What’s the harm in getting yourself insured for 10 more years, it’s always better to have more”. I went on to explain, “It’s good to have protection when needed.” But having something that’s not needed might make you compromise on the things that you need. Continue reading