Always compare Quotes from Multiple Insurance Companies before buying a Policy
Lowest Premium policy might not be the Best. Check the Terms and Conditions carefully
Check the Solidarity of the Insurance Company and the Efficiency of the Agent
Its always preferable to deal with a Insurance Broker as not only they give you the Best Deal and the Right Advise, but also provide complete assistance in claim
Check for Add on Covers for your Risk
There are lot of new and innovative covers available in the market which can lower your Business risk at a very low premium
Some common tricks used to fool customers
"You have to pay for only 3 years and then stop paying there after" - Life Insurance is always meant for Long term.
"The Mutual Fund is going to Declare Dividends – SO what??? The NAV comes down proportionately and there is no real gain
"the Fund gave 40% return last year" – What about the last 3 years or Since inception??
"Guaranteed Returns" – Guaranteed Returns are normally only 2-3%
" I will give you 30% cash Back" – Obviously because the intermediary is making a fortune by selling you a policy with High Charges
Your Money will Double in 3 Years – Is it Guaranteed??? Is it written anywhere???
Tax Benefits are common in All Policies
Insurance is more for Life Cover. Tax Benefits and Returns are Secondary