Some pitfalls to avoid while buying a life insurance
It is not a secret now that the most of the people don’t understand the life insurance policies
that they own or the subject matter of their policies. Life insurance is actually a vital financial
tool and important part of your financial planning, which is incumbent upon you to have the
basic level of understanding.
Here are three pitfalls that need to be aware of:
Incomplete details in the application
All of the insurance contracts have two-year contestability clause that means an insurer can
go for a submitted claim within that two years time duration if the material information was
not disclosed during the process of application. If you have somehow forgotten to note a
related fact in the application pertinent to the claim, there is a chance that claims will be
denied. A c