When it comes to planning out your finances and taking into account your own mortality, there are few other options that offer the kind of benefits that life insurance in India does.
It provides for your family to be taken care of in the unfortunate event of your demise, and promises to give them huge sums assured, either in a lump sum or in instalments to meet large expenses like tuition fees, marriage expenses, etc. that you will no longer be able to provide for.
Or does it?
The Life Insurance Guide from BankBazaar.com is a one-stop shop for information on how to go about choosing, acquiring and making the best use of your life insurance policy. We answer pertinent, but often ignored questions that have a huge impact on the utility of your life insurance policy. Find out the common mistakes that people make while applying for life insurance. This guide also aims to highlight and expose the many ways in which life insurers today are legally escaping their obligations to pay insurance benefits through loopholes, exceptions and fine print in the policy documents.
Top 10 Factors Affecting Life Insurance Premium
There are some factors that many insurance companies consider when pricing their policies, these factors may not be within your control. But the life choices you make, can also lead to the factors that can affect your life insurance premium.
The factors that affect your premium amount towards Life Insurance are:
7 Ways to Avoid Rejection of your Life Insurance Claim
Most often, insurers rely on legal loopholes and clauses in their policy documents to avoid making payments of sums assured, but a surprisingly large number of times, the fault and blame belongs to the customers themselves.
Here are seven things you as a customer can do to ensure that you always get paid what’s due to you by your life insurance provider: