Things to Remember While Comparing Life Insurance Policies in IndiaPosted by Sonia Nagpal on February 4th, 2016 Life insurance policies in India have certainly evolved with the times. Nowadays, you are no longer restricted to whole life plans. The boom in the insurance sector has given birth to companies offering more choices with a wide range of plans and features. From plain life cover to a life insurance plan combined with a pension income, there are plenty to choose from. So, which one is the best for you? Here are some things to think about if you are in the market for a life insurance policy in India. First of all, do you need life insurance? The answer depends on how important your income is in supporting your family. If your loved ones are financially dependent on you, then the answer is yes—you need insurance. A good policy can provide financial support for the family you will leave behind in case of your demise. Where do you begin? The key to buying the right insurance is to understand your financial position and know what kind of coverage you need. List your requirements and priorities. Develop a clear picture of your current assets and liabilities. Sit down and ask yourself: 1. What is the total lifestyle expense of my family? 2. What expenses will they have to deal with in the future—such as education and marriage? 3. What debts will they inherit if I die? By answering these questions, you will be able to determine the amount of coverage you require. What types of insurance are available in India? There are several basic kinds of life insurance policies in India.
When should you buy insurance? Your insurance needs will change through the stages in your life. Having said that, it is always better to buy earlier so that premiums are cheaper. About the Author Suggestinsurance.com is the online identity for IRDAapproved insurance broker – S B Insurance Brokers Pvt Ltd. On SuggestInsurance.com we offer quotes from leading insurance companies and let the customer explore the insurance plans, get their details, view and study brochure and other documents, compare features and benefits of these plans side by side and then take a decision. Business Name : Suggest Insurance Name : Sonia Nagpal Designation :Sr VP Sales Address – D-2, Sector 3, Noida - 201301 Email ID – info@suggestinsurance.com Website - http://www.suggestinsurance.com/ Like it? Share it!More by this author |