Wednesday, 3 July 2019


*Insurance is a protection that the insurer gives to the insured in time of any unexpected loss or damage. In expectation of the receipt of the same, the insured pays a certain amount as premium. While there are various kinds of Insurances available for the customers to choose from, the kind of Insurance one has to choose, depends on individual requirements. Among these.Life Insurance is something which becomes inevitable for any person, considering the uncertainties of life. Supposing the worst may happen, concrete planning of your finances and the people that it has to be shared to have to be defined well beforehand. Taking certain aspects into account before taking a policy:for yourself will give you maximum benefits while ensuring a safe and secure future for the dependants.
:The purpose of the policy:
Before taking the policy, hold on and see what other aspects you need to think about apart from giving financial coverage. What are the policies and premiums like? Who is going to benefit from your policy:Your life partner, your children, your friend and whether you want the amount to be compensated in a lump sum or as fixed installments will only make you better insured.

Get an idea of the details to be provided:
Each person’s insurance needs are different. The responsibility one needs to discharge decides this. If you want to get covered for more amounts, you need to be prepared for paying higher amounts of premium.You cannot insure for lesser amounts than your family needsIf you want to insure for a specific period for your spouse or enough amount for your children’s higher education, then looking for a policy that will mature by the time they need the money will be a good option.Rather than picking up a random number, it is better to have a fixed idea on the amount to be insured.
The cover needed:
The details to be given depend on every company’s requirements. Not all insurers need all the details. Some companies ask for your medical reports to get a track of your medical condition and work on premiums accordingly. Others limit their inquiry with some questions face to face or online. If you have got any medical condition which is not acceptable for any Insurer, then look for others who can offer you a policy without a mention of the same. But make sure other related aspects of the policy work out the best for you.
Check if your employer provides Insurance policy:
Life is not the same always. It might take drastic move with the change of events like you might get married, have kids, change employment, remain jobless, purchase or sell properties. Your priorities change with all or any of these changes in life which will have a great impact on your Insurance, it, is, better. Tocheck with Your, lNSUREr, Whether it Is. POSSIBLE TO CHANGE YOUR POLICY LETER, 

Ask your insurer if you can change your policy:

If you are in a high cadre or premium post in your organization, there are greater chances of getting insurancePOLICY from your company as a perk of the job. This is to ensure that your organization protects itself from missing a potential employee.cheek.with your organization’s,hr department whether you are eligible for such policy and if so the terms and conditions of the Policy.This might sometimes serve sufficient for your requirements, or you may need a lesser policy than you might have thought of.
See if you can make larger premiums:
It is not always possible to discharge premium amounts on time. Thinking in this perspective, you can make large payments when you are in the peak of your career which can liberalize your finances in a later stage.

Ask your insurer if there is suCh optioN available With them aS Most of the iNsurers provide tHis as this Could be A feasible Option When You are Not in a Position To finaNce yoUrsdlf WELL, 

Worry not if you are not able to make a decision yourself 
Modern insurance companies provide you 
With all tha details of policies. and you will find financial advisors serving customers in 
avery possible means moreover. you can find a lot of information online to educate, 
Yourself Well About Various Kinds of policies, 

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