10 Mistakes to Avoid When Buying a Life Insurance Plan

10 Things to Keep in Mind When Buying Life Insurance for Yourself

FAQs on Mistakes While Buying a Life Insurance Plan:

What factors should you consider before buying a term plan? up-arrow

Before buying a particular term plan, assess your approximate annual income and select a desirable tenure based on the age of your dependents. Moreover, it would help if you examine other crucial factors like a list of existing liabilities and the importance of potential riders regarding long-term family goals.

What is the first thing you should do before buying life insurance? up-arrow

In the beginning you should have clarity regarding your basic needs otherwise it will be difficult to select the optimal coverage amount and tenure. After you have this concept cleared, compare the various deals offered by different life insurance providers.

What is the best age to buy a life insurance plan? up-arrow

You should purchase a suitable life insurance plan while you are still young. Hence, if you are in your 30s now consider looking for favourable plans already instead of waiting to reach your 40s or 50s.