1) Always read the contract notes when received after committing to an insurance cover.Possibilities are there, that even after taking all precautions prior to buying the insurance product, some exclusions to the risks coverage .
2) Always keep the policy in force by paying the premium regularly.Your claim will be rejected if you have not paid the premium.
3) Always Keep the insurance company informed if you make any changes in the Address, change in the nature and composition of assets covered,etc..This issue crops up in the case of business assets and movable assets like vehicles . When you buy a second hand asset, the risk is more: you have to ensure the title is transferred in your name before taking the insurance.
4) Always buy Life insurance covers from the reputed companies which have a good name in the market .New insurers tend to be inclined towards more business and profit , rather than the payment of the claims under their policies.
So, Insurance cost is a Not a Liability but an Investment for Future asset .
BE INSURED FOR HAPPY LIFE.
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