Insurance Tips

Insurance Tips

28 May 2023

Always compare Quotes from Multiple Insurance Companies before buying a Policy

  • Lowest Premium policy might not be the Best. Check the Terms and Conditions carefully

Check the Solidarity of the Insurance Company and the Efficiency of the Agent

  • Its always preferable to deal with a Insurance Broker as not only they give you the Best Deal and the Right Advise, but also provide complete assistance in claim

Check for Add on Covers for your Risk

  • There are lot of new and innovative covers available in the market which can lower your Business risk at a very low premium

Some common tricks used to fool customers

  • “You have to pay for only 3 years and then stop paying there after” – Life Insurance is always meant for Long term.
  • “The Mutual Fund is going to Declare Dividends – SO what??? The NAV comes down proportionately and there is no real gain
  • “the Fund gave 40% return last year” – What about the last 3 years or Since inception??
  • “Guaranteed Returns” – Guaranteed Returns are normally only 2-3%
  • ” I will give you 30% cash Back” – Obviously because the intermediary is making a fortune by selling you a policy with High Charges
  • Your Money will Double in 3 Years – Is it Guaranteed??? Is it written anywhere???
  • Tax Benefits are common in All Policies
  • Insurance is more for Life Cover. Tax Benefits and Returns are Secondary

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