12 best tips for buying life insurance policy

1

• 12 best tips for buying life insurance policy in
  India

Life Insurance Policy
2
Tip 1 Fully understand why you need insurance

• You should always buy insurance with a purpose.
  If there is no purpose, better dont buy as you
  will buy unwanted products. If you do not have
  any dependent, there is no need to buy life
  insurance at all.

www.policyadvisor.in
3
Tip 2 Buy only plain term insurance policy.

• Term Insurance Policy is a no frills life
  insurance plan and it covers your life for a term
  of one or more years. It pays a death benefit
  only if a person die's within the term period.
• The primary aim of insurance is to secure your
  loved ones financial needs when you.

4
Tip 3 Determine accurately the Coverage or Sum
Assured.

• Calculating the Sum Assured is the most critical
  step once you have understood the need and chosen
  the right insurance policy type. You do not want
  to make the mistake of under-insuring yourself.

5
Tip 4 Choose a trust worthy insurance company.

• You have a lot of options when you need to choose
  the best insurer.

6
Tip 5 Avoid adding riders if you do not
understand them fully.

• Brokers/advisors will ask you to add riders. Yes,
  it is a good advise.
• You should buy them only if you know what purpose
  it will server.

7
Tip 6 Reveal all truthful information. Fill the
form yourself.

• A main cause for claims getting rejected is
  because insurers claim that true details were not
  provided when taking the policy. Fill the form
  yourself.

8
Tip 7 Know the exclusions. Ask the right
questions.

• Carefully Read The Insurance Policy Wordings.
• Ask the right questions to your agent before
  buying a policy.

9
Tip 8 Buy when you are young.

• Buy term life insurance when you are young,
  married or have a baby.

10
Tip 9 Consult  a paid financial planner/advisor

• You will be always better off getting advice from
  a quality paid consultant/planner who does not
  co-sell products.

11
Tip 10 Keep investments and insurance separate

• One of the best tips for buying life insurance.

12
Tip 11 buy separate policies

• One of the best tips for buying life insurance.

13
Tip 12 Buy Online

• One Online term insurance policies are much
  cheaper and very easy to buy within a minute.
  Compare policies and choose the best fit.

www.policyadvisor.in
14
Thank You
www.policyadvisor.in