Term Insurance: Why and when do you need it?

Capitalmind Podcast

Episode 41 - Deepak sits down with returning guest Ruchir Kanakia, the founder of the insurance distribution company OneAssure to discuss our favorite insurance product - term insurance.

Summary:

• How term insurance works for you and the company that sells it to you
• Debt or Dependents – the two reasons to buy term insurance
• How Covid and the fact that a handful of reinsurers control everything has made your office insurance a bit less reliable – consider buying a personal one too
• How much coverage is enough and how much the insurance company will give you
• Why you should opt for the in person medical test
• You’re tech or finance savvy but consider getting an agent or distributor if your dependents might not be
• Common riders and why you should ignore them
• How the claims process works and benefits of selecting a monthly or yearly premium payment

Click here for the full transcript.