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12 best tips for buying life insurance policy

Planning to invest in an insurance policy to secure your secure your loved one’s financial needs.Check out the best tips for buying life insurance policy to avoid mistakes.<br><br>Did you like tips for buying life insurance policy in India . Then educate your friends to avoid mistakes by sharing, tweeting this.

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12 best tips for buying life insurance policy

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  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 don’t 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 one’s 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

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