Ten things to keep in mind while buying a Life Insurance Policy

Knowledge parameters are very clear but still who is going to educate customer, why still miss selling is done with ULIP.
Have we ever understood the meaning and usefulness of insurance. My answer is NO..........
As above Devi has mentioned she don't like, but question is about like or dislike? Its a need of time is what we forgot. We want to buy insurance when its made compulsory, why we bring such situation.
Always remember insurance will only work in contingency will remain as contingency.
We have forgot what we need and the problem lies there.
So well understand what you need and that also from proper person otherwise you will land up in buying wrong product which is not useful for you.
Remember Insurance is NOT INVESTMENT. You have other option for investment...........

Thanks

Thanks for sharing

Excellent info, i feel we all should be adequately insured plus safegaurd our assets like car, house & shops etc

When it comes to unit linked plans i feel its a matter of perception, 

some people do get mixup with insurance & investment but i treate them seperate, they both have different objectives and goals 

I personally appreciate the idea of Insurance as its advantags are folds more than dis advantages which are almost minimal
Some of the life insurance advantages offered by different types of Life Insurance Policies are: 

If an estate owner has not accumulated enough assets for his family, Insurance quote helps create an instant estate for the sake of the Family’s security. 
Life Insurance provides the option to pass equal assets to the children who are not active in the Family business at the time the family business is passed on. 
Life Insurance policies can help secure the future of children for college/educational purposes as the amount of life Insurance Policy increases on a minor’s or parent’s life. 
The growth of a cash-value policy is tax-deferred - you do not pay taxes on the cash value accumulation until you withdraw funds from the policy. 
Life Insurance can be useful in paying estate taxes, along with other estate settlement amounts. Federal Estate Taxes are due nine months after death. 
If there’s a Business Transfer, life insurance can provide ready cash to finance a transaction between business owners who are ready to buy the deceased owner’s share from his or her estate after death. 
If there’s a home mortgage, one can pass the family residence to their spouse/children to free them of any mortgage if one has a Life Insurance Policy for the same. It is preferred to have a decreasing term policy that decreases in face amount as the mortgage balance is paid down. 
Life Insurance helps retain your Business from the loss of a key employee. Untimely death of a key employee can pose severe financial loss to the business. 
The right insurance proceeds can provide liquidity to pay off personal loans or business loans. 
Charitable Remainder Trusts provide tax benefits. Life Insurance helps replace a charitable gift. 
A lot of Insurance products presently provide good returns, which could be a beneficial way for saving necessary funds for retirement years. 
Benefits are available immediately and may be used to help pay expenses such as final illness and funeral costs, eliminating the need to sell estate assets to cover these costs

thanks for sharing...

I personally don't like Insurance Policies..except for motor vehicle, medical and fire insurance which is a must. With the changing times...insurance to cover flood should become a must for some communities.I have seen so many cases where people get the royal running around to get insurance claims when the sole bread winner dies(who of course had life insurance). Some insurance companies are even out to show reason why you should not get the benifit.Presently there is an ongoing court matter in my country where a businessman had a life insurance for US$1M..he was missing for weeks then subsequently found beheaded....this issue has even attracted international attention.Recently another insurance company was taken over by the government since billions cannot be accounted for....huge investigation going on. My personal opinion is that life insurance is another form of "hifaluten frauds".       

GR8.....Knowldge Parameters.......Its open up mind wat to do b4 doing so.....:)..M refering this imp knowledge to my frns....