Investing your money in avenues generating sizeable returns is the key to building wealth. As you analyze different investment plans and evaluate their pros and cons, you might come across life insurance as well and wonder if it is a worthwhile investment option.

Life insurance offers a lot of benefits. It safeguards your family against economic challenges in case of an eventuality. It helps you reduce your income tax burden. If used properly, it can also help you achieve financial stability. Therefore, even though it is not a direct investment product, it is an essential tool you should include in your investment portfolio.