I am 27 and the only earning member of my family. What type of life insurance policy should I take?
- Altaf Ahmed
You should consider nothing but a pure-risk policy such as term covers. These are low on cost and do not offer any returns on maturity. Take a policy that offers you a cover for a long tenure to protect your family against financial vulnerabilities and review the scope of cover each time there is a rise in income or you take on a additional financial liabilities such as a loan or financial support for a dependent.