Max Life: Term insurance plan that returns premium, provides cover for critical illness; Should you buy?

Max Life: Term insurance plan that returns premium, provides cover for critical illness; Should you buy?

Term insurance plans are the simplest and purest form of life insurance. If you have financial dependents and do not have adequate life cover, a term plan is a right tool to ensure their income replacement. The minimum life cover, according to thumb rule, suggests an amount equal to at least seven times of one’s annual take-home pay.

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