back arrow Back

Life Insurance or Term Insurance, Which one should I go for?

reply Share
28 Oct, 2021 by  Fleming D'costa

Hi guys, I am a 24 y/o working woman with a basic income and I am very new to insurance. I am thinking to start investing in insurance. So is it good to invest in insurance, if yes then should I invest in Life Insurance or Term Insurance, or any other?

like like
Term Life Insurance

2 Answer

29 Oct, 2021
Self Employed - Digital Consultant

Hi Fleming,

Here is my recommendation:

1. For wealth creation, start investing in mutual funds via SIP.

2. Buy term insurance if you have financial dependants.

3. For diversification of your investments, you can also put some money in PPF, gold ETF, etc.

I don't recommend any sort of life insurance policy for long term wealth creation.


Asad Akbar

like like
icon-comment 0 Comments
icon-reply Reply
29 Oct, 2021
Chartered Accountant, Personal Finance Advisor

Hi Fleming

I agree with Asad's recommendation. Please keep insurance and investment separate. Insurance is for protection and investment is for wealth accumulation

Wish you all the very best

like like
icon-comment 0 Comments
icon-reply Reply

Tired of dealing with call centers!

Get a professional advisor for life!


Rs. 1799


Discover the best tips for insurance every week!

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business.
© Copyright 2023 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to now 🙂