How to understand a,nd compare Insurance Policies
When you see the policies issued by different insurers. how to compare. The companies try to Pack and market as a bundle of features. The rules to be followed are
A] Read and try to understand the contract.. This is very difficult to understand the fine prints. But there is no other way to know what insurance policy you have bought If you do not understand the insurance policy , call the insurance company, insurance agent, or an independent consultant.
B] , Understand the group policies more carefully, because they cost less. But the coverage may be very little.
C]Some research about the stability of the company is very essential, If the insurance company is new or ill reputed ,do not touch the policy even for free.
D Get the policies that adjust the inflation automatically.. The coverage which may be enough at the time of taking policy may be insufficient.
E] Insure the items which are important from the family attachment as well as the emotional attachment point .
F] Do not ignore the importance of Antique items for the purpose of buying insurance.
G] Check the DATE.SIGNATURES,VALUES,GOVT. duties, date of maturity. Premium paid and to be paid.
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