"Salaried income" refers to the money a person earns by being paid a fixed amount of money on a regular basis, typically monthly or annually, for their work. It is the amount of money you receive as salary for your job. Full definition
So my query is this as I am not working can be able to invest in term insurance, despite lacking regular income I can afford to pay premiums.Also during my enquiry about this a HDFC banker told me that I can invest upto 25 lakh cover even without salaried income & which can be increased in various stages of life later, will this method be costly. (relakhs.com)
Conventional lenders favour borrowers with salaried income, but Genworth recognizes many Canadians are self - employed. (homeownership.ca)
Considering that you are likely to require the IRA funds only post retirement when your lack of salaried income puts you in a lower tax slab, this is a huge advantage. (pfhub.com)