News From Press Joint term life policies offer limited advantages

Joint term life policies offer limited advantages

Source: Livemint Aug 3, 2016

I am getting married soon. My to-be wife plans to get a term plan after the marriage. Should I buy a combined cover then or an individual plan now?

—Ravi Saxena

You should buy an individual term life plan now and not wait to buy a joint life plan. Joint term life policies have limited advantages and only a few insurers offer these plans. You will save money by buying separate low-cost individual insurances.

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