Benjamin Franklin famously proclaims – In this world, nothing can be said to be certain except for death and taxes. Since death is an absolute certainty, we should always ensure that we are sufficiently insured for that unfortunate event one day.

In today’s market, there are many types of insurance coverage. I am going to compare and analyse two common types of insurance: Life insurance vs Term insurance. There is a traditional saying “Buy term and invest the rest” How true is this statement? Let’s find out below:

Life Insurance

Life insurance is used to protect the life insured in the event of death. The premium that you paid is split into two portions. A small portion of your premium will go to the participating fund of the insurer and the remaining portion will be used to pay the insurance protection cost.

Life insurance is a small savings and high ...