Buying Life Insurance Policy? Don’t Ignore These 5 Things

Jun 29, 2018 | 12 months ago | Read Time: 1 minute | By iKnowledge Team

5 things to look out for when buying Life Insurance

Getting a life cover without proper guidance and research can turn out to be disastrous in times of crisis

Rakesh had bought a life insurance policy that let him down. So, let’s look at the five things he had ignored:

  1. Investment objective
    • Don’t invest in insurance to simply save tax
    • Keep your family’s future in mind
  2. Policy type
    • Invest in life cover that suits you
  3. Insurance company
  4. Sum assured
    • Review your future needs and estimate the amount you’ll need
  1. Premium frequency
    • Ensure you aren’t paying extra premium. Remember, annual and one-time payments are usually less expensive than monthly premium
    • Choose a premium considering your future finances

Advt. no.: IA/May 2018/4026

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