Granted, the intricacies of insurance can be hard to understand, but that doesn’t mean it’s not worth the effort. For those of us who spend time to study the various terms and conditions, it is not hard to find the best deal and the most suitable policy to protect us and our loved ones. You just need to be smart about it!
Here are 5 things only smart people know about insurance:
Thought you’re stuck with an insurance policy once you’ve bought it? Think again.
According to the IRDAI, there is a Free Look Period for all life insurance policies, and all health insurance policies that last longer than 3 years² . During this period, which usually lasts for 15 days, you can review the policy terms and conditions, and in case you any of them are not agreeable to you, you can hand the policy back and get a refund. The only ..
Didn’t make an insurance claim and thought you’ve lost money on your premium? When it comes to car and health insurance, that isn’t true.
If you go an entire year without making a car insurance claim, you are rewarded for safe driving with a No Claim Bonus of up to 20%³ when you renew your premium. Every year, this percentage increases, and if you go 5 years without making a claim, your premium can reduce by 50%! This benefit is also available ..