NEW DELHI : Sometimes the decision to purchase life insurance can make people anxious as they have many doubts on the matter. Here are three myths and questions that most buyers have, to understand life insurance better. Myth 1: Only breadwinners need life insuranceWhile it is true that life insurance is necessary for the person who earns the majority of the household income, there is also value and safety in having life insurance that covers the spouse, whether or not they work. This is an insurable risk, and home-makers should purchase life insurance alongside the family breadwinner. Sajja Praveen Chowdary, head-term life insurance, Policybazaar.com, explained, "Typically, your employer's life insurance coverage is limited to 1-2 times your annual salary.

Source: Mint July 19, 2021 06:45 UTC