11 Points To Achieve Financial Freedom - Part II

Being independent is wonderful feeling. We got our independence from British after long struggle. Same is applicable to financial freedom. Let’s understand what financial freedom is:

 “Financial independence is a term generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities”

In part one of this post I have listed 5 points, do read it "11 Points To Achieve Financial Freedom - Part I".
Here I am listing remaining 6 points.

6. Purchase adequate life cover

The main purpose of term insurance is to provide the financial security to your loved ones in case of you died so that after you, your family will not be in any debt.

11 Points To Achieve Financial Freedom - Part I

Being independent is wonderful feeling. We got our independence from British after long struggle. Same is applicable to financial freedom. Let’s understand what financial freedom is:

 “Financial independence is a term generally used to describe the state of having sufficient personal wealth to live, without having to work actively for basic necessities”

Things which prevent people from being financial independent are debts, no savings only spending, no plan for future goals, choosing wrong investment products etc.

Term Insurance - Points To Remember Before Purchasing

Term Insurance is the best way to provide the cover for one’s life. Currently there are lot of term insurance plans available in the market and the premium is getting cheaper, thanks for the competition.

Before purchasing term insurance please read below points:

1. Understanding the main purpose of term insurance

The main purpose of term insurance is to provide the financial security to your loved ones in case of you died. It is also needs to understand that there is no maturity benefit in term insurance. So use term insurance as the life cover provider not the money making tool.