Respected writers abusing insurance advice

  1. Outlook money, advice to an unsuspecting girl:

She will need this cover anyway once she is married and because she plans to contribute to expenses. Further, if at all she takes a break after marriage for any reason, she may not get a larger cover since she may not be working. So it would be a good idea to buy a simple term plan. Moreover, taking the plan at a younger age would mean paying a lower premium.

She needs much less insurance now that she is single, but poor girl is being advised to buy it now so that premium is lower.

2. MoneyControl, advice to a girl with no dependents:

Take our reader, 25-year old Suchintya. She earns Rs 36,000 per month. She does not have any dependents. But she envisages marriage for herself as well as plans to support her parents.

Should she opt for a Unit Linked Insurance Plan or a traditional policy? Should she look for a term or whole life policy?

They clearly mention that she has no dependents, but it is not even considered that she might NOT need insurance at all. Planning to support parents might mean that the parents are dependent, but it is not made clear and general impression given is that everyone needs insurance.


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