BUY Insurance for risk coverage and not for investment

Thanks to limited formal personal finance knowledge, most of us look at insurance as a tax saving avenue rather than for risk coverage.

As of date there are more than 15 private insurance companies selling their products in India unlike the days when LIC dominated the insurance market. The private players I feel have achieved a significant milestone in educating masses about the need for risk coverage though most of them had to resort to ULIP plans to achieve faster break-even….most are yet to achieve that anyways

Lot to read on web on why of insurance….please use your google skills