Life Insurance Buying Tips For First Timers

Outlook Money

Buying Insurance

Due to the pandemic, the number of people buying insurance for the first time has increased, and therefore, it is important to follow a strategic plan why buying an insurance policy

Life Insurance Plan

By selecting a proper life insurance plan, one can meet objectives, such as retirement, child's education, and income replacement


Tips For One Time Insurance Plan

It has been observed that trying to meet multiple financial needs through one insurance plan can lead to financial risks

Financial Needs

Decide Needs

Financial needs change with age. Therefore, it is important to review the portfolio on an annual basis and decide on the insurance plan as per one's life stage

Financial Needs


Before buying any insurance plan, it is important to share all the necessary information with the insurance company. The purpose is to provide future support to the dependents in case of one's demise



A personal financial advisor should be consulted before selecting a plan. It is not right to buy any insurance plan just for the sake of buying one


Selecting Company

Selecting a good insurer is very important. One should pay attention to the claim-settlement ratio of the insurance company

Compiled by Syed Muskan