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Term Insurance or Health Insurance ?” - which is more important if you have limited money

Term Insurance or Health Insurance ?” - which is more important for you if you have limited money. Death is less probable compared to hospitalization One of the argument is that, there are far greater chances of getting hospitalized because of some reason then dying. So if you look at this problem from probability point of view , you can be almost sure that in next 5-10 yrs, you or one of your family member will be hospitalized for some or the other reason – big or small. But meeting death is very less likely in comparison. So a lot of people argued that Health insurance is much more important than term plan, if you have limited money. Premiums are increasing fast in Health Insurance and its can be claim every year Another argument in favor of health insurance over a term plan was that, its a product where you can claim every year and protects your financial life from regular attacks of money sucking illnesses and accidents and anyways premiums are increasing very fast

Comparison of PPF and life insurance: Which comes first?

Some people compare life insurance with other saving instruments such as PPF as both can be saving avenues as well as allow one to reduce one's tax outgo. However, strictly speaking PPF and life insurance are actually two very different instruments with few features in common. Sound financial planning rests on the twin pillars of protection and savings. Protection always comes first because once you are fully insured even if something unfortunate happens to you, your family will be able to maintain its standard of living without any trouble. Only after ensuring financial protection can you think about saving for other goals such as your child's education, his/her marriage, your retirement etc. An example will bring out why the life risk element is the primary need in financial planning i.e. protection first, savings next: A person, aged 30 with good taxable income, wants to create a corpus for use after 15 years for the wedding of his daughter who is now 5 years

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