New Delhi, Nov. 23 -- Every generation is hugely influenced by its predecessor. And it is no different in terms of personal finance. One such hangover that we inherited from our last two generations is 'investing' in life insurance products that come with maturity benefit.

Contrary to the popular belief that they solve both purposes, such policies are neither good insurances nor good investment products.

"Insurance and investments are two separate things solving two different purposes. The former covers financial risks, while the latter helps you create wealth. And, mixing the two is a major mistake," said Renu Maheswari, certified financial planner and Sebi registered investment adviser, CEO and principal advisor, Finscholarz Wealth Ma...