Here are a list of Consumer Guides that can help you make an informed decision before buying an insurance policy:

What kind of insurance do I need?

Understand your financial goals. Once you know what your aim is, you will be in a better position to choose the type of insurance you need - protection, savings, investment or retirement.

What will my insurance policy cover?

Different insurance policies have different covers. Make sure your Insurance advisor presents you with a list of recommendations, including the types of policies and benefits. Read them thoroughly to be aware of what your policy covers.

How much insurance coverage do I need?

The amount of insurance coverage you need depends on factors such as the number of dependants, debts or mortgages, lifestyle and investment needs. Insurance cover should be to such an extent that in case of one's demise, his / her dependents are able to maintain the same lifestyle as they used to have before the unfortunate event occurred.

How much will I be paying for my insurance cover and will I be able to afford the premiums over the long term?

The amount of premium paid depends on the insurance cover you buy. Look at the current benefits your insurance policy provides and opt for a rider accordingly. With some riders, you may stop paying premiums for your policy if you become disabled, but will still be able to enjoy the benefits of life insurance protection.

Frequency of Premium Payment:-

Choice of Frequency of premium payment period - Single premium, Yearly, Half yearly, quarterly and monthly should be carefully exercised. However, if your policy does not have this benefit and you are finding it difficult to continue meeting the premium payments, consult your insurance advisor.

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