5 Major Tips When Buying Life Insurance for the First Time in 2023

If you are from a family whose members are dependent on you and if something happens to you. So in this case buying life insurance will not fulfill your physical presence but it will definitely ensure that your family is financially secure.

Financially, it definitely supports your family when you are not there. On the other hand you can also buy it for your parents also and you have many reasons to buy for your loved ones. 

When it comes to buy insurance policy, there are many confusing options available in the market from many agents and companies.

Because of this, we, you or any other person are not able to choose the right policy for ourselves or for our parents or beloved ones.

But no problem, I will help you choose the right policy with the help of this article. If you are looking for buying policy for the first time, then you have come to the right place.

Please read this article carefully and this desire to choose your policy will also be fulfilled with the help of this article.

1. Don’t get confused with other insurances when buying life insurance

There are many products available from various insurance companies in the market. So first of all you have to remember one thing that not all policies are perfect for you and you do not have to get confused by looking at all the companies.

That’s why you have to take the same policy which is perfect for you. That other insurances are related to your life, I may already tell you that different policies are designed for different people. So you have to choose the right policy.

2. Know what you want covered when buying life insurance policy

There are many different types of policies available in the market nowadays. So the second thing you have to make sure when buying any policies. Always think in your own mind that you are buying the right?

You have to take insurance as per your requirement. If you do not want to take only term insurance, then you should take only term insurance. Don’t fall into the trap of any middleman.

3. Know how much you want covered when buying life insurance policy

When buying insurance policy, you must remember one rule. If you are still young ahead and your children are still small so you must always remember that till the time your child’s education is not completed, you must cover at least 10 to 15 times of your annual income.

If you are able to meet the insurance premium to cover 20 times then definitely do it.

4. Buying life insurance from a financially sound company

As this is not car insurance, what you think of getting the cheapest insurance. Brother this is life insurance, and this is completely different from car insurance.

If you buy term insurance then it will pay the amount of insurance of your policy to your nominee only after you die. So this is my humble request to you all guys that do not harm yourself in the affair of cheap.

5. Buying life insurance Online or Offline?

In today’s time, almost all insurance companies offer their insurance policies plans offline and online both.

First of all, I want to make you aware of this secret thing that if you are buying through an agent, then the agent gets a high commission from the company against the policy.

The company will give commission from your pocket and not from the company’s GL. Those commissions are deducted from the premium of your bomb.

It is important for you to know that Agents gets 30 to 40 percent commission as commission. Agents also get 50% commission in any company.

So now you must have come to know whether you have to take insurance online or through offline.

If you are buying from the online mode, then you save the money of this entire commission game and the entire premium amount gets invested with your policy premium, which gives you further benefit.

Frequently Asked Questions

Ans: There are mainly 2 types of life insurance: 1. Term Life Insurance and 2. Permanent Life Insurance.

Ans: Basically there are two types of term life insurance : Refundable and Non-Refundable term life insurance.

If you buying refundable term life insurance, then you will get the amount refunded after the policy terms as per mentioned of your company policy.

Ans: There are mainy benefits of buying life insurance. Please click Benefits of buying life insurance.

Ans: You should to buy life insurance earlier. Because earlier age you buy life insurance, you will get at low or cheap premium.

Ans: There are many best life insurance companies. Know more to read, please click best life insurance companies.

Ans: You should always purchase life insurance online.

Ans: There are many benefits life insurance. Know more to read, please click benefits of life insurance.

Q9. How Does Life Insurance Work?

Ans: If you want to know that how does life insurance work then click here to read full article on how does life insurance work.


In this article, we have told you about Top 5 Major Tips When Buying Life Insurance. We also told you in this article how many best way to find best policy Online or Offline.

If you liked this article, then kindly share this article to those who do not know about these important tips. Kindly share this article with your closest ones, so that they can also be aware about this.

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