March 26, 2025
Business

Avoid Costly Mistakes: 10 Things to Know Before Getting Life Insurance

Mansi
2 weeks Ago

10 Points to Keep in Mind, When Purchasing Life Insurance By, Vishal Subharwal, Chief Marketing Officer and Group Head – Strategy, Distribution Planning, E-commerce, HDFC Life

  1. Know your Human Life Value (HLV) and purchase life insurance cover accordingly
  2. Choose products based on your life stage, risk appetite, and life goals
  3. Decide the policy term and premium amount based on your goals
  4. The cheapest plan may not be the most suitable one for you
  5. Read the policy features carefully and also the terms and conditions
  6. Purchase add-on riders that offer relevant benefits and risk cover
  7. Fill your application form with correct information and make full disclosures
  8. Ensure you have a nominee assigned to your policy and they are aware of the same
  9. Save the policies electronically in an e-insurance account (eIA)
  10. Insurance policies come with a 30-day freelook offer which is a unique proposition

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