Know if You Should Renew Your Old Term Insurance Policy or Buy a New One?

The world we live in has changed completely over the past couple of years. The pandemic, and the millions of deaths it has caused, features made us realize how uncertain life is.

Also, as individuals worldwide keep succumbing to the deadly COVID-19 disease, the viewpoint around life insurance, too, has changed. It is now necessary for everybody to ensure that no matter what happens tomorrow, their future, and that of their family, is secure.

With regards to securing your family’s future, life insurance is key. You may have an insurance plan in place, but it’s quite possible you miss a premium payment for some reason or the other, and the policy lapses. All things considered, it’s important to understand what works better for you — reviving your lapsed policy or buying a new one altogether. Let’s understand why in detail.

Source-

https://www.moneycontrol.com/news/business/personal-finance/should-you-revive-your-old-term-insurance-policy-or-buy-a-new-one-8615861.html

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