Choose an insurance package that suits your needs

Who doesn't need insurance?

We all need insurance at a time in our lives. Choosing the best insurance package that best suits your needs is an important decision not only for you but also for your family and that can be complicated. Whether it's Life Insurance, Health, Motorcycle, Personal Accident, Pension Plan, Travel, Home Insurance, etc. With more than 30 insurance companies, offering more than 300 products, the challenge facing customers today is not buying policies but buying rights. policy, which best suits their needs.

But insurance is considered a complex subject and not many have the time or tendency to understand the ins and outs of policy. So the need for this watch is to have a simple explanation, jargon free about Terms & Conditions and step-by-step guidance for customers, to choose the right policy.

These are simple steps if you plan to buy an insurance policy:

1) Make sure about your needs
Not all policies are the same. For example, under Life Insurance comes the Pension Plan, Child Plan, Term Insurance, Endowment Plan and ULIP. So, it is important that you choose the package that suits your needs. If you are looking for a pure protection package, then the Term Plan is for you.

But if your goal is to have a combination of savings with protection, then your choice is the Child Plan, Pension Plan or ULIP. Here your goal will be to decide what type of protection you should choose. For example, if your goal is to save for a Child's future, the Child Plan will be ideal, but if you want to save for your retirement, then the Pension Plan is the best bet.

2) Calculate the cover you need
Many factors play a role when determining the cover you need. For example in Health Insurance, your age, medical history, city of residence, lifestyle habits, etc. Consider when determining the amount of coverage. On the other hand, in Life Insurance factors such as income, obligations, number of your family members, etc. Helps determine the amount of coverage. So a 30-year-old person who has a home loan and 2 school children must take higher protection, while a 45-year-old who has no obligation and whose children have started working can choose lower insurance.

3) Compare Packages
Comparing packages does not mean just comparing prices. Cheapest is not always the best. You have to compare features, benefits, exceptions, and choose a package that suits your needs. For example, when choosing a health package for your parents, you must choose a package that has a minimum waiting period, because older parents can at any time require hospitalization. In addition, comparing motor vehicle insurance at any time, as long as the update can be a very useful program you can get premium discounts and maybe even get additional drivers.

4) Read, Understand & Familiarize yourself with policy terms and conditions
After you focus on policies that you need to read, understand, and familiarize yourself with all the terms and conditions. This is important to avoid surprises and heartache later. For example in Health Insurance, you have to know what is the Room Rental Limit, Waiting Period, Exceptions, Day Care Procedures, Hospital Networks, etc. Similarly, in the Life Insurance Policy, you must know the benefits of Maturity, Death Benefits, permanent exemptions etc. For example, death or hospitalization due to participating in adventure or war sports are not covered by many Health and Life insurance policies.

5) Looking for expert advice
If you have been stuck with any policy, then you only need to seek expert help. If you have failed to understand the policy or if you are not sure which is the best plan, just talk to a specialist who can analyze your needs and suggest the best choices.

That is a small step that can help you in the future if you are hit by a disaster

Beeinsured is supported by Robinhood Insurance Broker - A well-known name in the Insurance Industry with more than 8 years experience and a strong presence in 8 major cities in India. Our main goal is to provide superior service to our users by offering them department stores for all their insurance needs.

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