The purpose of insurance is to take care of the family in case of your untimely death.

Term life insurance is the cheaper option than the other ones – which return some money at the end of a certain period , say 15 or 20 years.

Which one should you opt for ?

Term Life Insurance – it costs less . The argument is you will lose all the money if you survive the period of the insurance .

But look at the other plan – the one that returns money after a certain period of time ( 15 or 20 years ) . This costs more and the amount you get back at the end of 15 – 20 years would have lost a lot of it’s value due to inflation ( varies from year to year and country to country ).

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