The whole point of a life insurance policy is to provide enough finances to go by. However, not all policies payout enough to serve that purpose. Policies that are labelled as cheap and come with the lowest premiums tend to offer a low payout at maturity, and a low payout would be the last thing would ask for in the time of financial distress.
Besides, a cheap policy might also be void of other benefits, such as disability and sudden death claims, that otherwise form an essential part of a good insurance policy. It is best to go with a plan that offers all-round, comprehensive benefits.
If you are opting to pay regular premiums for a policy, then you might as well opt for one which does not sweep away the benefits under the deception of a low premium. Besides, cheap policies also tend to have hidden charges, which means that even though you are paying low premiums, you might end up paying some extra money.
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