5 common mistakes people make while choosing Insurance.

Choosing Insurance can be confusing, especially with so many plans and promises. Most of the people don’t even enjoy talking about insurance but honestly it’s not something just for enjoyment, Insurance and savings is one of the important aspect that every individual should consider.

1) Buying without knowing what you need –
Some people buy an insurance policy just because of third person influence. they don’t really ask themselves, whether the policy actually suits there needs or do they really need it, which can be considered as a mistake as every individual should know what insurance is and whether it’s actually beneficial for them or not.
2) Trusting agents Blindly –
Before trusting any agent or insurance advisor, one should do there own research by checking reviews regarding that particular plan whether the plan actually suits there need or not, because some insurance agents sell or might push plans that give them more commission.
3) Thinking Insurance as an investment
One of the most common and important mistakes people is thinking of insurance as an investment. But in reality insurance is for protection . Through insurance you protect your future from un- controllable circumstances where money can be a problem.
4) Hiding health problems
After choosing the plan and while filling out the form ,an individual is required to provide there medical condition details. Whether there health is all good or they are dealing with any illness. Some people try to ignore , skip or even lie about it , but if by any chance the company finds out they can reject their claim that’s why its very necessary or highly preferable to be honest .
5) Ignoring term insurance plans
People usually ignore buying term insurance plan as there is no return but it is one of the simplest, easiest and cheapest way to make sure your family feels financial secure in case something happens to you.

Insurance is not difficult or confusing. People just need to take their time, understand their needs and figure out what they are actually looking for, without blindly trusting any agents and then take decisions accordingly. A little effort can save alot of trouble in future.