Satishwar Balakrishnan, MD&CEO shared his insights on why taking a proper life insurance policy is the first step for anyone planning for a financially secure future.

Cover The Gaps It’s good to have well-laid plans to reach your financial goals and to build assets over a period of time. But such plans can get derailed in case of the sudden death or disability of a key earning member. In the worst of cases, it can also leave the family in penury or over-burdened with debt. The death of the breadwinner is a real risk that families face—Covid-19 showed how transitory lives can be. That is why taking a proper life insurance policy is the first step for anyone planning for a financially secure future. Which Cover Should You Choose? The first thing to remember while choosing a life insurance policy is not to fall for the neighbourhood insurance agent’s sales pitch and end up buying a traditional policy that does not provide adequate cover. These policies also have an investment component and do not provide pure life cover. A term insurance policy can provide you an exhaustive cover at a much cheaper price. “Term insurance is a type of life insurance that financially protects the family in case of death of the life assured....