Insurance tip: What to look for while buying a life cover
Buy a policy when you’re healthy. Older people and those not in the best of health pay a steep premium for life and medical insurance. The proposal form needs to be filled with accurate and complete information. Telling the truth will go a long way in ensuring a smooth claim-settlement process.
Study and research online to compare charges and features of competing insurers. Most of the insurers offer cost-effective online plans. It is easier to get quotes online that can help you make decisions effectively.
Do not get blinded by luring offers by unknown financial advisors. Check for credentials and insist on an ID proof while buying a policy.
Keeping these factors in mind will not only help you make the right decision but also secure you and your loved ones for life.
— Author is Managing Director & Chief Executive Office of AEGON Religare Life Insurance
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