6 Most Common Mistakes When Buying Insurance In 2018

  • By admin
  • 06.06.2016
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6 Most Common Mistakes When Buying Insurance In 2018

People always like to talk about the benefits and advantages they have taken from their insurance plans but no but likes to talk about the loss and bad things happened to them just because of taking the wrong insurance.

Now you must be thinking bad things and loss in insurance? yes exactly it happens people also get loss due to wrong insurance. such as, you have chosen a wrong insurance company and didn’t receive the insurance claim, receive the less annuity, bear more charges etc. So in order to avoid these common mistakes while buying insurance I have written few of them below.

Not searching over internet

The biggest mistake people do while taking and insurance plan is that people don’t search about it. They directly select one company and take it and don’t know about what other companies are offering. The best thing to buy a better insurance plan is you should search about it over internet, take information and compare the plans they are. You will have a better knowledge about insurance policies and then you can deal better with insurance companies.

Rush to an agent

The second mistake that mostly people do is they rush to the agents or take insurance from agents. Always keep in mind that agents who are selling the insurance policies they also have their own margins and they might sell it to you on higher rates. Moreover they receive commission from the insurance company to sale insurance. so their task is to sale and they try to sell it through telling you different crisps which actually don’t exists. So try to avoid agents and take insurance policy directly from the recognized offices of the insurance company.

Taking a low grade company

In order to avoid a little expense people rush to the low grade companies and take insurance from them. At first you will be easy and you will feel that you have bought the insurance at fewer prices but later you may face multiple issues in claims and maturity. So always choose a reputable high grade insurance company while talking insurance. Because high grade companies are more conscious about their reputation and they try to provide what they offer.

Taking a policy which you don’t know

This is also a very common mistake, people take insurance policies but they hardly know what that policy actually is. So when you take the insurance policy kindly read the whole plan carefully and then decides which plan is suitable for you. Moreover, after deciding what plan you are going to take, tell the insurance company and after underwriting read it carefully as well. It will give you the exact information what is included in your insurance policy.

Not taking discounts

While selecting the insurance company mostly people don’t ask for their discount packages and they just take what they offer. Insurance companies launch discount feature frequently, so while talking insurance policy you should ask for discounted policies to the insurance companies. Talking discounted policy will give you certain benefits and who don’t love the benefits.

Not discussing the payment plans

Mostly of the people don’t discuss the payment plans to the insurance companies. They just fill the form sign it and just take the certificate. Don’t do like that, talk about insurance payment plans with the insurance providers. Mostly there are three types of payment plans monthly, semi annually and annually.

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