My daughter is a classical dancer and has been earning from her performance. I was thinking of insuring her life. What kind of life policy can I take for her?
Vivekanand Patnaik, Cuttak
Life insurance is taken on an individual who has financial dependents. Assuming your daughter is a minor, she is unlikely to have any financial dependents, in which case she does not need any life insurance. Moreover, you need to ask yourself if you would be fine to receive the policy proceeds from a policy on your daughter’s name. In case you are looking at creating a savings or investment plan for your daughter to meet her future financial needs—you could go in for any financial product like mutual fund or Ulips to invest on her behalf.
