When you’re starting your financial planning or personal finance journey, the first thing to think about isn’t savings or investments. It’s life and health insurance. Many ignore it, but all it takes is one big hospital bill to drain your savings.
Quoting Nithin’s tweet:
The first thing you should do when you are starting your personal finance journey is to ensure you have sufficient life and health insurance. If you have dependents, not having life insurance is a bad idea.
Based on my interactions with folks, perhaps the biggest reason why they don’t have life insurance is because the policies are a nightmare to understand with all sorts of jargon and hidden clauses.
And now, things are changing as well. Underwriting is getting tougher, and some insurers are even offering claim guarantees. There’s a lot to keep up with, so here are 7 things you should know before buying term insurance, written by Shrehith Karkera from @Ditto_Insurance .
Feel free to post if you have any questions. 