The attraction to become a millionaire is one of the primary reasons which leads us to misunderstand life insurance.

The attraction to become a millionaire is one of the primary reasons which leads us to misunderstand life insurance. Here are 3 important points to remember while opting for a life insurance:?

1) If you focus on cheap premium, you’ll end up making bad decisions. Rather than just thinking broadly as ‘term’, ‘endowment’, ‘child plan’, ‘moneyback’ – understand the purpose of the plan better.?

2) Combining 2-3 plans is a smart way to buy life insurance. However, as a matured policy buyer, you must evaluate the Plans involved in this combination and choose what suits your interests the best- just like you do while you order food at a restaurant!?

3) Each individual feels really empowered and motivated while signing a proposal form and submitting the first premium cheque! However, feeling of doing something genuine for your family and post-retirement life must not wash over you. You must remember to discuss all the details with your nominee!?

Life Insurance is much more than becoming a crorepati or paying premiums, it is a lot more about building a suitable ‘life insurance portfolio’ wherein Return OF the money is planned more than Return ON the money!