Which is better when you need life and critical illness insurance - BTIR or a whole life plan?A part of being financially savvy involves outsourcing your biggest (financial) risks to a third party (an insurer), but you'd want to make sure you get the best coverage that you need for the least amount of premiums.
But when should you review your life insurance plans? Here are the different life stages where it'll be good to review your protection coverage and what you need:
When you get married (increase protection) When you have kids (increase) When your parents are no longer around (decrease) When your kid gets their first job (decrease) Now the question is, should you buy term or whole life (WL) plans?When it comes to pure life protection, the answer is simple: if you want the most cost-efficient method, then Buy Term and Invest the Rest (BTIR) is best.
However, it...
