These are the errors we most often see. Avoiding them can save money and protect claims.
❌ Postponing the purchase
Every year of delay raises the premium and may bring health issues that raise it further.
❌ Buying too little cover
A ₹50 lakh cover may sound large but may not last for a family needing decades of income.
❌ Hiding tobacco use
Smoker status must be disclosed; a mismatch can lead to claim denial.
❌ Buying return-of-premium plans for savings
The effective return is typically low; term plus separate investing is usually more efficient.
❌ Not telling the family
Make sure your nominee knows the policy exists and where documents are.
❌ Missing a premium
A lapsed term plan means zero cover. Use auto-debit.
❌ Ignoring claim process details
Know which documents the nominee will need.