Useful Tips To Buy Life Insurance
Lower Premium for Early Birds
Life insurance premiums are calculated based on an individual’s age. The younger you are, the lower the premiums charged. Buy a policy early to avail a long-term, low-cost cover to protect your immediate and extended family. (1 Crore Insurance for 25 yr age is just 10000 per annum for 30 yr term)
Calculate Your Needs
When estimating how much coverage you need, consider all your present as well as future financial obligations, high coverage at low premiums. (Normally Human Life Value = 10 x Annual Income)
Brace for Inflation
When buying term insurance plans, account for inflation! A cover of Rs.50 lakh may look sufficient today but may not be sufficient 20 years from now. When estimating how much you should cover yourself for, consider how rising prices will affect future financial requirements.
Online Term Insurance – Your Best Bet
Online Term Insurance policies are the most economical and convenient life insurance products you can opt for. These are the cheapest form of Insurance Available as you are purchasing it online and most affordable one too.
Your Life insurance premium is determined by
How much of Life insurance coverage a person should get depends on