Nov 10, 2018 04:31 PM
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Life insurance is one of the most important financial product which almost everyone buys but few understand well. All human beings have to die one day but if they die young or have an untimely death, it places great financial burden on the family left behind. Insurance is the best method to take care of this financial burden. As LIC says " Zindagi ke saath bhi, zindagi ke baad bhi". But very few people understand the concept of insurance well, so Insurance agents sell them unsuitable products. So buyers themselves need to be more proactive. There is a term " Caveat Emptor" which means buyers should be aware and check the suitability of a product before buying the same. This applies aptly to Life Insurance.
Some tips before buying Life insurance:
Firstly, assess your need properly. Do calculate the amount of money that will be needed in case of eventuality. Finally this will decide the premium payable.
Most of us do a lot of research before buying goods like clothes, grocery, vegetables, appliances etc. But we don't do any research before buying Insurance policy. We simply do what the insurance agent tells us. It's surprising as lots of free information is available on internet for the same.
The final test of insurance will be in case of mishappening ie how quickly the insurance company pays to the family after death of subscriber. So, please check claim-settlement track record of companies before taking insurance.
Now-a-days there are many comparison sites like policybazaar, bankbazaar etc which allow subscribers to compare details and premium payable for different policies. Do check them when you are buying insurance.
If you are comfortable on net/mobile, many insurance companies offer discounts for online purchase of insurance.
Insurance is very important for all individuals, please buy it carefully.
