I am getting married in July and my fiancé does not have any life insurance. Should I take a term plan or endowment for her?
-Suresh Shah, Mumbai
We recommend that you buy a life insurance policy, especially a term cover for her soon instead of an endowment type of a plan. Term plans are pure life insurance policies which insure the life of the policyholder and no more. So, as the policyholder you get nothing on survival from the insurer and there are no other benefits like bonus or money back. The quantum of life insurance cover will depend on factors like age, your employment status and health condition. Take a policy for as long duration as you can.
