Opinion | The final step before buying insurance
Before you switch off after buying insurance, read the policy kit carefully
Buying insurance, particularly term or health, can be an intense process. Forms are to be filled, KYC documents provided, medical tests undergone and payments made. So, when the insurer tells you that the insurance is done, most heave a sigh of relief, and file the insurance contract somewhere. Don’t do that. There is one final step before you can switch off and that is to read through the policy kit. The first page of the policy contract captures the most critical information of your insurance and if it is not correct, you run the risk of delays in claim payment or even claim rejection. Mistakes on this page do take place. These are mostly errors that can and should be corrected immediately.
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