Why buy Insurance?

1. Ensure your family is protected from economic loss in case of early death.
2. Ensure you have funds to live gracefully for long time post retirement.
3. Ensure your family is protected from debt liabilities on account of home loan etc in case of demise of insured.
4. Ensure income in case of accident/illness.
5. Ensure savings to provide a corpus for your children for higher education and starting in life.
6. Ensure you have enough money to pay for treatement for any of the major dreaded diseases.
7. Ensure you get lump sum money for major events like child’s marriage, buying a house, foreign trip etc.
8. Acts as an efficient tax savings tool.
9. Can offer liquidity besides protection.
10. Riders like waiver of premium and payor rider add to safety of your dreams.
11. Financial institutions offer lower rate of interest on housing loans for people carrying life insurance.

FILLING OUT PROPOSAL FORM
12. Choose your product only after proper need analysis.
13. Fill in all columns correctly in block letter as this information is relevant in deciding the rates offered to you by any Insurer.
14. Pay special attention to Family History, Income, Ocupation, Height and Weight, details as these are used to determine if life to be insured carries extra risk.
15. Pay special attention to nominee details.
16. Fill in all information about any major past illnesses to ensure that in unfortunate case of claim, there is no denial on account of material non-disclosure.
17. Please ensure that age proof given by you corroborates the age mentioned in the form to ensure that there is no denial on account of material non-disclosure.
18. Opt for right mix of Riders/Add on benefits to get the best out of your policy.

TAX BENEFITS AVAILABLE TO YOU
19. Investment up to INR 1 lac is eligible as deduction from taxable income under section 80c of income tax rules.
20. Premiums paid towards Dread Disease up to INR 15000 (in case of any senior citizen dependent) and up to INR 10000 (in case of non senior citizens) is eligible as deduction from taxable income under section 80D of IT Act.
21. Maturity benefits are exempt from tax under section 10(10D) of IT Act.

CHECKING THE POLICY DOCUMENT
22. Check your policy document for correct name.
23. Check your policy document for correct nominee details
24. Check your policy document for correct appointee details in case of minor being a nominee.
25. Check your policy document for correct sum assured and term details.
26. check your policy document for all riders and contract features being samunder mandatory e as promissed.
27. In case you are not happy, you can return your policy 15 day free look period.

TAKING CARE OF YOUR POLICY
28. Keep your policy in safe place as this is a long term contract.
29. Keep a copy of the policy in a different place to casehave records in you lose the policy.
30. Please inform insurance company of any changes like additional child births, change of nominee etc.
31. Please ensure that your nominee or key family members are aware of your insurance details and where the policy document is kept.
32. Please keep your records with insurance company updated for continued servicing. You should update any change in contact details immediately with the insurer.
33. Pay your premium on time.
34. Keep your premium receipts in a safe place for proper records.
35. In case of policy loss or damage, contact your Insurance company immediately.