What your life insurance policy covers? #fineprints
Leena Parwani
Seasoned Entrepreneur & Insurance Specialist | Expert in Jumbo Policies for Sunlife & Manulife | Global Business Owner & HNI Advisor | Finance Graduate with HR Background | Podcast Host & Mother of 2"
Fine prints of Life insurance: Try to know more from your adviser!!
What regulations supersede your wish under the policy?
What will make this policy null and void, yes that happens, beware of it.
what are the unusual exclusions in the policy?
How insurer manage your money? where and how they invest?
If its Whole of life policy, do not miss out to see what are the % of return showing in your illustration, if illustrations are not given, ask for it.
Ask for guaranteed and non guaranteed features.
Get the policy in hand before your free look period is over: all the policies comes with free look period, that is usually starts from day of policy issuance, it vary from provider to provider 15 to 30 days. this period is for you to read the policy and make sure this is what you applied for and this is what you are sold as, if you are not satisfied you have rights to cancel the policy and get full premium back.
Owner at SimpleAccounts - Helping Businesses to Manage their Accounting Smartly.
4 个月Great read, Leena! ?? Your insights are always refreshing and thought-provoking. Thanks for sharing this! Keep the valuable content coming. ??
Senior Manager marketing and training
8 年when critical illness are becoming costlier as the medical technology advances faster and not all can afford to meet the xpenses a whole of life policy wiill be more beneficial to them . I will be talking about a plan covering some major diseases ( 16 major diseases till 85 of our age and hospitalisation benefits till 70 of the age