What are the things to keep in mind while buying an insurance policy?

What are the things that should be kept in mind while buying insurance?

First of all, Happy New Year to all the viewers of our website. On the first day of the year 2022, we have brought such an article for our viewers, in which everyone is going to benefit a lot. In today's time it has become very important for everyone to have an insurance cover. Life Insurance, Health Insurance, Term Insurance, Car Insurance, Home Insurance etc. Everyone feels safe by buying an insurance cover in a human being. But, many times we make some mistakes while choosing these insurances. For which we may have to bear the consequences in future. It has also been seen many times that despite having insurance, you do not get any benefit from it. Agents of insurance companies hide things while selling insurance, due to which you may suffer later, especially when you ask for a claim from the company, it gets rid of its chase by making some technical excuse. That's why today we will tell you some such things that you should keep in mind while buying any insurance so that you do not face any kind of loss in the future.

Question:

Why it is important to check terms of Insurance Cover?

Answer:

 Whenever you are going to buy an insurance cover, first of all you should read the terms of the insurance cover carefully that whenever you go to clear any insurance, then the insurance companies only after fulfilling those conditions. Gives the claim to the insured. But there are many such insurance holders who buy on the trust of the insurance agent without knowing the terms of the insurance cover. But always remember if any of those conditions are not fulfilled then the insurance companies will refuse to give the claim at the last moment and you will regret it later and the entire premium paid by you is completely wasted. You are not able to take advantage of insurance at the time of need. That is why when you are taking an insurance policy, read all the terms of its cover carefully and ensure that you fulfil all those conditions.

Question:

Why it is very important to A pay attention to the premium of the insurance cover?

Answer:

In any insurance, there is a role of its premium and the cover available in that premium, no matter what type of insurance you are taking, at the same time also check that which other companies are in the same premium Which is giving you the same cover benefits because maybe some other insurance company is giving better cover than that.

Many times it has been seen that some other insurance company is giving better cover in the same premium and we know that after taking an insurance policy, we come to know that in such a situation you feel cheated. Therefore, before taking an insurance cover, do your research and check the policies of different companies only while taking insurance and see the premiums of those companies and pay attention to the cover that what you are covered in that premium. going to meet.

Question:

Why it is very important to check claim settlement ratio of any Insurance company?

Answer:

 Before taking an insurance policy of any company, follow this important step, otherwise the money given by you to the insurance company will not be useful to you when the time comes. Therefore, the most important thing to keep in mind is what is the claim settlement ratio of the insurance cover. The track record of an insurance company can be ascertained from the claim settlement ratios of the keys. that the claim settlement ratio shows how many insurers' applications for claims have been settled by the insurance company in a financial year and how much money the insurers got back when they needed it, the higher the claim settlement ratio, The claim record of the insurance company is considered equally good. Always remember if the claim settlement ratio of any insurance company is less than 95% then you should be alert immediately and do not take the policy from it and take the policy from any other insurance company with good claim settlement ratio. With this your future will be safe.

In nutshell, we can say that If you have read all the things mentioned above carefully then you will probably never buy the wrong insurance cover. We would like to advise all the readers of our website to always keep health insurance, life insurance, car insurance. Always read the terms & conditions of the insurance companies carefully and go to the right insurance agent but do your own research. Money invested in any financial product will be considered right only when it comes in handy when needed.