Around the world: Insuring parents in India

A life insurance policy is unusual in that the life that dies will not benefit from the product.  Yet it could be argued that those who take out life insurance policies on their own life do benefit from the peace of mind that their beneficiaries will be financially secure after they have gone. Individuals may benefit more directly from other types of insurance. Most obviously from income protection (IP), which replaces income in the event of an illness that prevents someone from working. Or critical illness (CI) cover, which can help with the payment of medical expenses, care costs...