Gupta Investments Financial Services Private Limited

  Amit, who was 28 years old, met his friend Sumit, 35, who was married and had two children, by chance while on a work trip. Amit was constantly busy because his job required extensive traveling. That was one of the rare occasions when Amit got an opportunity after the conference to sit down and chat with his friend over coffee. As they sat together and talked, the conversation soon drifted to personal finances, when Amit mentioned that he had bought a term insurance plan at the very young age of 25. This startled Sumit, who had assumed Amit was too young to purchase insurance. It led to an interesting course of conversation. Sumit: I don't know much about term insurance, but I have heard of it. And how did you come to buy a term plan at the young age of 25? Isn’t that too soon to purchase life insurance at such a young age? Amit: Well, the sooner, the better when it comes to life insurance. The earlier you purchase a term plan, the less premium you will have to pay. The m...

Do I need Term Insurance? It's an extremely important question that needs thoughtful consideration. In order to answer this question, let's look at the significance of term plans and the best time to get them.  Financial decisions: We often buy products for our family and avoid paying too much for unneeded items. We use a criterion of utility, product quality, etc. while purchasing toothpaste or an automobile. Therefore, it makes sense that we carefully analyze the product's quality and financial returns before we purchase or invest money. In a similar vein, we ought to be cognizant of the monetary value of our lives as individuals. If the cost of a human life is less than your present insurance coverage, you need term insurance immediately.  Loss of income: When we have a cough, cold, fever, or other medical issues, we temporarily relax. Because we are still getting paid, we might not recognize it as a temporary loss of income right now. If these days of temporary income l...