Readers' Corner: Financial planning

Buy it when you have an excess budget, as the standalone will also not come cheap, Kartik Jhaveri

If I am buying a term life insurance, does it make sense to pay upfront or should I opt for an annual payment option?

You may not find many policies offering a single premium facility. If yearly payment is difficult for you, then invest an amount equal to the total premiums through the policy tenure into a liquid fund. If your annual payment is Rs  10,000 and policy tenure is 30 years, invest Rs 300,000 in a liquid fund. After that, each year redeem an amount just enough to cover the annual premium payment. With this strategy, your policy will run