Recently, a 60-year-old doctor from Hyderabad bought a term plan worth Rs 1 crore for a term of 15-years, paid a single premium of Rs 8 lakh. If you know anything about life insurance coverage, this should surprise you. Ideally, a 60-something, nearing retirement has no reason to buy or extend his life coverage by 15 years. In fact, financial advisors usually plan your portfolio in such a way that by retirement your term covers usually end.
However, data from insurance companies tel ..
