Always check these 5 thing to before buying a life insurance policy
If you are planning to buy a life insurance policy then first check these key things that you must remember.
1. Track record of the insurer
one should always check if the company give the claim amount on time or is there a bad customer service experience.
2. Claim Settlement Ratio
You should also check the Claim Settlement Ratio (CSR) of the life insurance company.
3. Service capability
Service capability includes explaining important steps in the claim process and providing the right policy for the consumer.
4. Company’s strength
Always check company's strength. by the Life Insurance Council, some of the key barriers to people investing in insurance are mistrust and unethical practices used for sales.
5. Consumer focus
a company should provide better communication to make them feel secure with their policy purchase.
It is crucial that the customer is able to differentiate between his/her real needs from the various offers by the insurance companies.