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October 28, 2021

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Avoid These Six Common Life Insurance Mistakes

Life insurance is one among the foremost important components of any individual’s budget . However there’s lot of confusion about life assurance , mainly thanks to the way life assurance products are sold over the years in India. we’ve discussed some common mistakes insurance buyers should avoid when buying insurance policies. OF Islamitische uitvaartverzekering Underestimating insurance requirement: Many life assurance buyers choose their insurance covers or sum assured, supported the plans their agents want to sell and the way much premium they will afford. This a wrong approach. Your insurance requirement may be a function of your financial situation, and has nothing do with what products are available. Many insurance buyers use thumb rules like 10 times annual income for canopy . Some financial advisers say that a canopy of 10 times your annual income is adequate because it gives your family 10 years worth of income, once you are gone. But this is often not always correct. Suppose, you’ve got 20 year mortgage or home equity credit . How will your family pay the EMIs after 10 years, when most of the loan remains outstanding? Suppose you’ve got very young children. Your family will run out of income, when […] read more
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Avoid These Six Common Life Insurance Mistakes

Life insurance is one among the foremost important components of any individual’s budget . However there’s lot of confusion about life assurance , mainly thanks to the way life assurance products are sold over the years in India. we’ve discussed some common mistakes insurance buyers should avoid when buying insurance policies. OF Islamitische uitvaartverzekering Underestimating insurance requirement: Many life assurance buyers choose their insurance covers or sum assured, supported the plans their agents want to sell and the way much premium they will afford. This a wrong approach. Your insurance requirement may be a function of your financial situation, and has nothing do with what products are available. Many insurance buyers use thumb rules like 10 times annual income for canopy . Some financial advisers say that a canopy of 10 times your annual income is adequate because it gives your family 10 years worth of income, once you are gone. But this is often not always correct. Suppose, you’ve got 20 year mortgage or home equity credit . How will your family pay the EMIs after 10 years, when most of the loan remains outstanding? Suppose you’ve got very young children. Your family will run out of income, when […] read more
0 Views : 24