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Expert Insights: 6 Tips for First Time Insurance Buyers

Expert Insights: 6 Tips for First Time Insurance Buyers

Investing in a life insurance policy for the first time can be a little confusing. After all, investing in a policy for financial security can be scary for first-time life insurance buyers. Sometimes, so many life insurance policies, terms, premiums, etc., can puzzle up a first-timer, as a result of which first-time life insurance buyers might contemplate not getting a life insurance even if they want to buy one. But, well, here is the relieving part. With the proper guidance and tips, investing in life insurance can be uncomplicated and contented for first-time life insurance buyers.

With this article you would not have confusion let overpower you and thus you can invest in a life insurance with no hesitation. Wondering how? Leave it on us! Read the article below for an expert insight for all the first-time life insurance buyers.

Tips to Buy Life Insurance For First Time


1. Get a Better Insight on Why you Need Life Insurance Policy

The first step towards investing for first-time life insurance buyers is to get an insight into why they want a life insurance policy. Life insurance provides you with financial security to you and your family members so that you do not have to face any financial restriction in unforeseen cases and financial emergencies.

2. Plan Your Goals and Requirements

It is better to plan your goals and financial requirements, especially for first-time life insurance buyers, in advance. This may give you better clarity on the amount of required life coverage in the long term.

3. Know How Much Can You Afford

It is essential for first-time life insurance buyers to know how much amount of premium they can afford to pay. Talking about premiums, they are the amount paid by the policyholder to the insurance company for life insurance policy and in return, the policyholder can enjoy the benefits of the life insurance policy.

4. Calculate the Life Cover You Want

An essential tip for first-time life insurance buyers is calculating a rough estimate of the amount of life cover they want for themselves and their family members. In addition, make sure that you keep in mind your long-term goals and financial requirements that may arise in future.

5. Find out the Life Cover that is Best Suited for You and Your Family.

Having access to multiple life insurance policies, it can be confusing for first-time life insurance buyers to choose the life insurance policy that is aligned with the goals and financial requirements of them and their family members. Therefore, it is imperative to choose the life insurance policy well beforehand to avoid confusion later.

6. Choose a Trustworthy and Reliable Company

There are various life insurance companies providing various policies to the customers. Therefore, it is imperative for first-time life insurance buyers to go for a reliable life insurance company with sound and proven results and trustworthy. One must also check their claim settlement ratio to gain more surety on how much the company is reliable.

What’s Next?

For first-time life insurance buyers, investing in a life insurance policy can be a new experience altogether. Therefore, it is essential to have the tips mentioned above in mind for a hassle-free and smooth process of investing in a life insurance policy.

You should always go for the leading and top-rated insurance companies that provide insurance policies ideal for you and your family. So first-time life insurance buyers can be relaxed and at ease when they plan to invest in a life insurance policy.


*Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time
The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale.
Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

Suggested Plans

Bharti AXA Life Shining Stars

  • Non-linked, non-participating limited pay endowment Life Insurance plan
  • Designed to take care of the financial needs of your child.
  • Flexibility to opt between 2 Maturity Payout Options
  • Flexibility in Policy Term/Premium Payment Terms
  • A great short-term investment option for a child insurance policy.