BENGALURU: Insurance is a contract that promises payment of an amount to the person assured, in exchange for a premium on the event of a risk or loss of the insured person. It is a used to manage risk in case of an uncertain loss.

According to the data collected from Economics Times, some people have earned well and brought life insurance to save tax and invested in high cost plans without hesitating.

Insurance is the most sophisticated and flexible financial service in today’s world. According to a study conducted by Financial Services Portal, Bigdecisions.in, among 3000 individuals most of them are underinsured.

For every insurance buyer, it’s very tough to decide how much insurance cover they really need to get to lead a hassle free life. Let’s find out certain main points to make this task simpler.

Check out the best possible ideas to choose a perfect policy:

#1 Minimum Protection: The life insurance coverage should be sufficient enough to provide an income that will take care of the expenses of your family after your death.

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