For young earners, a Term Plan & Mutual Fund combo, designed by themselves, is most suitable than any insurance-cum-investment product currently being offered, due to:-
1. Flexibility and affordability in insurance cover and investment
2. Liquidity in corpus withdrawal without stringent lock-in periods
3. Lesser mortality charge of insurance cover
4. Lesser fund management charges
5. Higher premature death benefits
6. Tax benefits on investment if ELSS fund is chosen, besides on insurance
7. Higher returns on survival
8. Better planning of life's various short, medium, and long-term goals
9. Competitiveness of fund managers
10. Better investment regulatory authority and transparency.
1. Flexibility and affordability in insurance cover and investment
2. Liquidity in corpus withdrawal without stringent lock-in periods
3. Lesser mortality charge of insurance cover
4. Lesser fund management charges
5. Higher premature death benefits
6. Tax benefits on investment if ELSS fund is chosen, besides on insurance
7. Higher returns on survival
8. Better planning of life's various short, medium, and long-term goals
9. Competitiveness of fund managers
10. Better investment regulatory authority and transparency.