Life insurance is a plan to secure the future as well as protect yourself and your family against risks. 

However, not everyone understands the regulations and benefits in an insurance contract to choose the right solution. 12 important things to keep in mind before participating in life insurance!

Understand why you need to buy life insurance

Life insurance was born from the need to protect participants financially against risks in life. In the most difficult times, facing health problems or financial worries, participants realize the value of life insurance even more. 

When choosing to participate in this solution, customers receive a lot of benefits, from medical care, hospital fee support to pre-event income support, fee payment assistance and ensuring the future of their children.


In addition, this is also a long-term financial channel for safe and effective investment and savings. However, you need to remember that the main goal of insurance is protection. Therefore, the savings interest of life insurance cannot be compared with the interest rate of banks or other investment channels.

Currently, life insurance products are extremely rich with many different benefits. Therefore, you need to determine your priority needs to choose the types of insurance you should buy. Eg:

If you want your child to study abroad, choose education life insurance.

If you focus on investment needs and accumulate profits, you should choose investment-linked insurance packages.

In case you need to prepare a financial fund for a comfortable retirement, from now on, join retirement insurance products.

Priority to participate in life insurance for mainstays

The breadwinner needs to buy life insurance, because this is the object of direct labor and generates the main income for the family, from this income source will pay all expenses related to living, studying, and medical care to travel, entertainment or savings. 

If the breadwinner unfortunately has an event affecting his health or even dies, the emotional loss is difficult to make up for, but the shortfall in income can be shared through a contract life insurance coins. 

Buying insurance for the breadwinner is a way to build a solid financial foundation to protect the whole family.

Choosing the right life insurance for your family's financial ability

A life insurance policy usually lasts for more than 10 years, not to mention a lifetime family protection solution. So you need to find a reputable unit to be able to "choose to send gold". 

Priority should be given to a life insurance company with a long history, strong economic potential and a team of experienced and dedicated consultants. 

The insurance consultants not only recommend the right product package for the customer, are ready to explain all relevant information, but also assist in solving problems throughout the contract term.

Understand the characteristics and benefits of each insurance product

If based on the scope, the existing forms of life insurance basic: endowment insurance, term insurance, endowment insurance, insurance paid periodically, whole life insurance. 

If based on the purpose of participation, there are life insurance packages related to protection, accumulation, investment, retirement or education.

Each type of insurance has its own conditions of participation, benefits, costs and characteristics. To find out which life insurance is right for you, you need to find out more about the product through the insurance company's website or you can contact an insurance consultant directly.

Be aware of insurance exclusions

Life insurance protects against risks, but not all risks are guaranteed insurance benefits. Only unforeseen risks, adversely affecting the health, body and life of the participants during the effective contract period are insured and paid.

For pre-existing risks, intentional or pre-maturity, the insurance company is not liable. Therefore, when buying life insurance, participants should understand the exclusions in the contract.

Consider your own financial capabilities

Instead of trying to pay the desired fee, participants should consider their current income situation. 

If your income is not stable, the types of insurance you should buy are products with a flexible form of payment (increase/decrease in annual premium). On the contrary, if the income is stable, then pay attention to the protective face value of the insurance product.

The earlier the experience of buying life insurance, the more benefits

The general age to participate in life insurance is from 0 - 65 years old. However, the best time to buy life insurance is at a young age, because then the cost of insurance is lower, but the benefits are extended. 

Moreover, at a time when you are young and in good health, it is easy for the insurance company to approve the policy. Not to mention, the sooner you join life insurance, the more valuable the policy maturity benefits will be, helping you to proactively make all your big plans in the future.

Think of life insurance like time is passing, can not stop to wait when we have a new need to buy. Because the condition of insurance depends on age and health. So, join the insurance at the right time, to reap the benefits and take charge of your life.

Be sure to read all the terms of the insurance contract carefully

Many people wonder if buying life insurance is safe? To ensure safety, before signing a contract, participants should carefully study the product information, read the terms carefully to understand the basic rights, as well as protect their personal interests then, minimizing unnecessary risks. 

In addition to learning the benefits of the main insurance product, you need to carefully read the benefits of the attached supplementary product.

It is necessary to declare information transparently and clearly

Participants should note that when buying life insurance, they must honestly declare personal information, especially health status. 

Because the information recorded on the declaration form is the basis for the insurance company to calculate the premium and decide the insurance benefits. If it is found that the participant is not telling the truth, the life insurance company has the right to refuse to pay when the insured event occurs.