It is always better not to mix investment with insurance. The best insurance is always considered term insurance. If you do not have reasonable coverage then you must get a term insurance.
Term insurance is like a car insurance where the premium is given to the company, in case of any untoward happening you get the sum assured and if nothing happens then the money is not returned.
Insurance should be looked at from the perspective that it is required for your dependants to cover expenses in the case of an untoward happening.
For investment purposes, a person should consider mutual funds.
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