Life Insurance Buying Tips For First Timers

Outlook Money

Life Insurance Plan

By selecting a proper life insurance plan, one can meet objectives, such as retirement, child's education, and income replacement

Plan

Tips For One Time Insurance Plan

It has been observed that trying to meet multiple financial needs through one insurance plan can lead to financial risks

Financial Needs

Decide Needs

Financial needs change with age. Therefore, it is important to review the portfolio on an annual basis and decide on the insurance plan as per one's life stage

Financial Needs

Information

Before buying any insurance plan, it is important to share all the necessary information with the insurance company. The purpose is to provide future support to the dependents in case of one's demise

Information

Research

A personal financial advisor should be consulted before selecting a plan. It is not right to buy any insurance plan just for the sake of buying one

Research

Selecting Company

Selecting a good insurer is very important. One should pay attention to the claim-settlement ratio of the insurance company

Compiled by Syed Muskan

Company