• Coverage

This is the very purpose of insurance. You need to find out the areas covered in an insurance policy. More importantly, you have to verify if critical illness is covered. Besides you need to make sure that you will enjoy maximum benefits by taking the policy. Some of the aspects that one needs to consider include when and how these benefits are payable.

• Premiums

  Some policies require you to pay a uniform premium all over the policy period while the others charge higher premiums as you get older. Some of the policies provide or guarantee income along with premium payments. Moreover you should know the different intervals at which the premiums are payable. You need to find the ones that best suit you.

• Tax Exemptions

  Many people prefer to take up an insurance policy for the purpose of availing tax concessions. Some policies exempt you from paying income tax while the others help you in saving from paying estate tax. You also need to understand that these exemptions won't apply for all policies and you may be required to pay the taxes when you make a withdrawal in the form of loan. You have to choose the appropriate policy on the basis of the tax benefits that you wish to enjoy.

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