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WHAT POINTS TO BE CHECKED AFTER BUYING YOUR INSURANCE POLICY

Posted on Monday July 15th, 2019

Have you recently got your insurance policy? But it’s not a right time to sit back after buying a policy; you need to check its terms and conditions carefully. ShubhBank guides you to take note of some points to be checked after buying your insurance policy just to look at all the exceptions.

• Things to check immediately after receiving the policy

1. Is your policy as per your expectations?

2. Are your personal and nominee details accurate?

3. Have you stored the documents safely and informed your family?

4. What are the key things that you should remember about policy?

• Is your policy as per your expectations
It is advisable to review your policy documents immediately to ensure that you have received your policy as per your expectations. Have a check upon some key factors like Sum Assured, Policy Term, Premium amount and Pay term to ensure that it is as per your need and how they going to benefit you in long run. If you have any doubts in your mind regarding the Top Insurance Policy you can call and enquire about the doubts from your insurance company.

• Accurate personal and nominee details
Accuracy makes an easy claim for you. You must be aware of the fact that your policy documents contains all your personal details, bank details and nominee details in it so do keep a check whether its accurate or not and updated time to time. This will help you avoiding any confusion during the claim process.

• Have you stored the documents safely and informed your family
In a matter of time when you face any unforeseen circumstance, your family deserves utmost ease. So store your policy documents at safe and accessible place and inform your nominee about all the details of policy, its benefits and all documents are easily accessible. This will help them in making a smooth claim process by avoiding any unnecessary delays.

• What are the key things that you should remember about policy

A few things that are important for everyone to practice are:

1. To ease your nominee that he/she can find all the information at one place, keep a list off the policy documents you own and standard claims practices along with your policies.

2. Paying your premiums on time will help you get the right benefit out of your policy.

3. You cover needs an upgrade so evaluate your cover every five years just like your lifestyle.

We all know life is full of uncertainties and there are number of reasons why we feel the need of insurance in life. Having an insurance plan keeps you feel protected and provides you the mental peace. Choose your insurance policy carefully and keep these things in mind that why you need insurance, how much do you need and should you opt for a term plan or whole life plan. Once you are clear in your mind Compare the Best Insurance Plans and choose accordingly.