Want to buy an insurance here’s what you should know

Do you want to invest in insurance? If yes you must definitely know what to look for and what to avoid.

Insurance is a great financial instrument when you are thinking about financial security. Let us today talk about the most common product bought which is life insurance.


When it comes to life insurance the value of earning member of the family usuall referred to as bread winner is of consideration. Now for a lay man this term is understood as buying a policy which is at a certain point when I die, it will give my family a certain amount of money I am going to pay premium for. At the time of buying there are certain facts which are of great importance which a person should know while filling in the form which usually people do not pay attention to. I shall talk about the same today.

  1. Age of the person: The age of the person is one important criteria as it decides the premium amount for the person. Firstly any false information should never be given at the time of getting a life insurance or else it might cost your family at the time of claim by making them null and void or affecting in other ways. Best, always be transparent. If the matter of concern becomes premium amount, then you must initially compare the premium amount of the product you want to buy from various companies and then proceed to buy the product. You will be happy and at the time of claim your family will be happy.
  2. Occupation: Most of us do not even bother about the word occupational hazard. In insurance there are certain category of occupation which are considered to be hazardous and thus there are extra premium charged for covering the risk of the same. Its better to pay the extra amount and stay free from anxiety. Hence better to mention the nature of work clearly.
  3. hobby: Even though most of the people in our fast pace life, do not have time to persue hobbies which may be risk to life, but in case you do so, please mention the same in the beginning so that in case of any event there is no repudiation of claim for this reason.
  4. Health: health status is the most important of all that you need to disclose completely there are medical tests associated with them even in case of non medical limit of the product. the regular extra on the premium is any time better than the dependent left behind with the hassels of qustions being asked on why non disclosure and then the claim not paid for this reason.

Hope I could make few of the most important point clear for you. In case of any query you may comment in my comment section I would be happy to answer them for you.

Bye for now.


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