Pure Term Insurance is not advisable for all


New Delhi[mithianchalnews.in]:-Insurance is a mechanism to protect wealth creating machine whether it is a human life or valuable goods producing machine. Before buying insurance first of all let’s analyze whether you or your machine has financial value i.e in case of lose you or your dependent are bound to face financial loss? If yes go ahead and buy insurance otherwise not.

Let me proceed with human life .Human life is asset for his family as they act as wealth generating machine for his dependent. No doubt,pure term insurance is best and cheapest product to replace income of the bread & butter earner of the family.

If you are a young earning member of your family but no one is financially dependent upon you then even though you have financial value you need not buy pure term insurance because you are not obliged to leave assets in absence of you.

So better to invest in other financial product and postpone buying insurance as long as someone becomes financially dependent upon you.
Till that time save money invest in other financial product and be a wealth creator.

Bimal Chandra Jha
SEBI Registered Investment Adviser

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