When it comes to securing the future of your family, one of the easiest and best tools is a term insurance plan. It guarantees that in case something untoward happens to you, your family is well taken care of. But how to choose the right sum assured is tricky. A lot of people question whether a ₹50 lakh term insurance policy is enough, excessive, or perfectly okay. Here we will explain it in layman’s terms and guide you through the advantages and disadvantages of a ₹50 lakh plan.

What Is a Term Insurance Plan?

A term insurance policy is a form of life insurance that pays a set amount of money to your loved ones if you die while the policy is still in effect. It is not an investment or savings vehicle like other insurance policies. This means it is lower-cost and simpler to purchase. The

See Full Page