Life Insurance
Is Life insurance a good investment avenue? Absolutely not. From the very basic nature of life insurance, it is very clear that it is a risk management tool rather than investment tool. It is meant to provide certain money to the dependents in the absence of bread winner.
Today insurance companies are minting money just by selling toxic policies to the people. Of course, it is very successful in terms of business because mainly due to lack of knowledge on investment avenues. An agent will sell its toxic endowment or money back policy mainly for commission and not to create value to the customer.
A person can become wealthy by investing in Equity or real estate or even in gold. But it is impossible to see person becoming rich by investing money in endowment insurance policy. One who sells it can certainly become rich.
The sole purpose of this post is not against the agents, it is to educate people on investment avenues.
“Save, Invest, Spend and Be Happy”
