Nithin Kamath advises buying life and health insurance

Zerodha CEO Nithin Kamath recently advised on platform X that individuals starting their personal finance journey should prioritize purchasing life and health insurance. He noted that jargon and hidden clauses often deter people from buying insurance. Kamath shared key considerations for selecting insurance, including choosing a provider with a high claim settlement ratio and understanding critical illness benefits. He also highlighted the importance of instant claim payouts and noted that underwriting rules have become stricter, leading to more policy rejections. Additionally, Kamath mentioned zero-cost term policies and the Married Women’s Property Act, which helps protect beneficiaries. He emphasized the need for awareness and understanding when purchasing insurance.