When buying an insurance policy, be it life insurance, health insurance, or general insurance, you should always take the time to choose and invest in a policy that suits your needs. This way it will extend financial protection to you in during an emergency, when you need all the help you can get. Insurers these days offer a number of policies and add-ons that address your unique circumstances, so you are sure to be spoilt for choice.

However, purchasing an insurance policy which is wrong can turn out to be an entirely futile purchase as it may not serve any purpose at the time of need. This is why the policy so purchased should be done only after doing the amount of research necessary this purpose. Here are thus some of the top points to remember to help you choose the right insurance policy -

CredentialsYou already know how important your medical insurance will be. Don’t you think you should devote some time towards finding out the reputation of the company providing it. This is because the best insurance policies in India are offered by insurers who have a great track record in this industry.

Claim Settlement Ratio

Irrespective of the type of policy being opted for, including pocket insurance, it is more than essential to check the claim settlement ratio of any insurer before availing their products. A claim settlement ratio refers to the number of claims that an insurance company has honoured against the total number of claims they have honoured in a given financial year. It is thus essential to opt for an insurer who has a high claim settlement ratio to have greater chances that your claim will be settled.

Additional Read: Ways to Evaluate Insurance Policies Online