Lifestyle
Lifestyle
Look for
Reasonable sum insured to provide the desired financial protection which is subject
to the sustainability
A combination of whole life cover or term cover, cash value cover to meet current
liabilities at the same time providing financial support for the family to maintain
the current lifestyle
A pension policy to provide continuity of income after retirement
A long term care policy or an health insurance rider at an economical cost
Future of your children's education thro a cash value policy if possible
An insurer guaranteeing the return and other benefits
A good broker preferably domain experts as your advisor and for your insurance management
Avoid
Children plans to cover children alone without serving any purpose
A regular interval pays back policy
Stop paying the insurances already taken.
Don't pool your insurance in ULIPs alone as past experience and history do not show
huge returns globally
Useful Hints
Ensure your allocation of funds for protection cum savings does not exceed 25% -
30%, liabilities 30%. If exceeds you will give up after sometime and it would be
a grave mistake to recover back.
Once in five years record your signature with the insurance company
Life insurance is not an investment park and you would not get beyond 7.5% cumulated
as return at the end of the maturity
