Don't Rush! 10 Things You Must Consider Before Buying A Life Insurance Policy

The concept of a life insurance policy, wherein a designated beneficiary is paid a sum of money in the event of natural death of the policy holder, is often misunderstood, say financial experts. Every year, many individuals end up subscribing to unsuitable policies simply because they make a hurried decision days ahead of the income tax filing deadline, they say. Some life insurance policies serve the dual purpose of providing protection as well as return on investment. Bad decisions - when it comes to insurance policy selection - often fail to serve the goal, they add.

Here are 10 basic things you must consider before putting your money in a life insurance policy: