- You can upgrade your existing policy in case your requirements change.
- Take inflation, current economic status, changing family size and future plans into count while reviewing your insurance policy.
8. Be accurate on your application
- Hiding personal health information or filing wrong information to get lower premiums can later result in the loss of coverage and benefits.
- Insurance companies can deny full benefits to beneficiaries if you die of an illness you'd prior to signing the policy and didn't reveal.
9. Avoid solely based on your employer's insurance
- Life insurance should be 10 to 12 times of your salary, but your employer may not offer that amount.
- You'll lose your coverage should you change your job or your health declines.
- Employer-provided life insurance tends to get more expensive as you age.