What is insurance and what is investment? Insurance is the arrangement by which a company or the state undertakes to provide a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a specified premium. On the other hand, investment is the action or process of investing money for profit. So, if someone is asked about his investment portfolio, he may consider insurance policies like endowment plans and money back policy as part of the portfolio. With competition increasing, not just insurance agents but insurance companies too are promoting products which show the returns one will get after the maturity of the policy. Nothing wrong with that, but we should understand that for securing our future, we should be investing and not buying expensive insurance.
75 years to reach per capita income of $2730, will take only 5 years to add another $2000, FM Sitharaman
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