Robert Ingersoll once said, “If I had my way, I’d make health catching instead of disease.” Because of the cost of health care, it needs to be the center focus, as no one can afford to be sick.
Check your priorities before buying the product?
- Decide your requirement very clearly before meeting the agent...such as whether it is cashless or not,what is duration of pre-existing conditions for which claim is not available etc.
- DO NOT let the agent dictate your requirements.
- Very often, we end up buying a policy which the agent wishes to sell.
- Always refer to the printed company brochure for details about the policy and not claims being made by the agent.
- The premium which you pay will be a combination of charges - some of them purely to cover the risk and some of them as overheads.
- In case of investment products, the overheads are pretty high and it is best you know exactly where the premiums paid by you are being used.
- Also, ensure that unnecessary riders are not being slipped in without your knowledge. They always come at a price.
- Check in what eventualities, the insurance cover will not be valid. You would not want any surprises in the event of a claim.
- Enter nominee details clearly and accurately.
- The entire purpose of taking an insurance policy is to benefit the nominee in case of any unfortunate event.
- You would not want them to go through unnecessary trouble as the nominee details have not been clearly mentioned.
- All insurance policies can be cancelled within 15 days of receipt, in case you are not satisfied..So act quickly if u don't like it.
- ... and of course as Mark Twain said, “Be careful about reading health books. You may die of a misprint." holds true for policies too...as they specify in a lot of financial products now-a-days. So please read the offer document carefully before investing.