There is an old saying “prohibition is better to diagnosing”. This is mostly used under health problems. We can get this moral tho financial issues too. We should have complete knowledge before entering into any financial process. lets go through the dos and dont’s of insurance policies…..
There are lot of changes made in health insurance policies for the past years. There are lot of problems too. But the companies clear the problems to keep the clients safe. But wee can also see some cases were customers are betrayed with waste policies. This is the main reason people loosing faith in insurance policies. Before 2010 companies came up with a statement of ‘doubling the money within 3 years’ on unit based policies. There are lot of up and downs in this process. Advisers you to receive money from the companies for positive feedback. After 2010 government banned all these schemes which betrays the customers.. But still we hear of few draw backs in insurance policies.
Be fore going for a policy, we should have basic knowledge on financial terms and ideas. we should check thoroughly about the benefits on unit, term policies or any investments. Dont depend on advisers completely.
Extra income ?/ extra offer??
Normally we invest or take policy which are more profitable. But some companies publish income more than the actual. We should take care in this case. Be careful with policies giving more income in less time period. Present all the insurance portals are giving full information on the policies they provide.. Take a personal enquiry on all the aspects. Normally go for policies with income of 4-5 %.
Read the terms and conditions completely before going for a policy. Once You sign the documents you will be abided by all the terms written on it. Dont take any policy in a hurry. Lot of people take policy at the end of economic year to get ta redemption.. Lot of people recognize that the policy taken is not beneficial and stop paying the premium in between.which is a loss. So be care full before you take a policy.
All are transparent….
There are lot of expenses in investing process and unit based policies. All these are transparent. when we estimate the net income, we should also calculate this expenses. Have an idea on this before taking policies.
We can get documents in native languages too. It is use full for those who face trouble with english. We can also contact customer cares for enquiries before taking policies.. Still we face any doubts we can consult some financial advisers. Compare all the available policies in the market for best.