When you make decision to buy life insurance, you are often confused or hesitant because you have the consider your mortality in the decision process. Despite that it is important that you know the ins and outs of life insurance policies because it will provide financial protection to your family in your absence. Therefore, it is imperative that you eradicate the misconceptions regarding life insurance and learn in-depth about the life policies that are suitable for you to make the right purchasing decision.
Insurance claim process is very complicated
If your insurance policy is bought from a reliable company, you are sure to face no complication while making a claim. All life insurance policies come with some terms under which the policy is not in-force. Except for those instances, you should always find it easy to make a claim against your life policy.
It is imperative that you understand which events are covered by your policy and which are not before making the final purchase decision. It will help you to avoid any unwanted hassle while making a claim. In case, you face difficulties while making a claim, you can take assistance from the Insurance Development & Regulatory Authority Bangladesh (IDRA) to resolve the matter.
Savings is enough, I don’t need insurance
No one can deny the importance of having a solid savings account. However, you should also consider being protected by a life insurance policy to make your and your loved one’s lives safe. There are many insurance policies at MetLife Bangladesh that can provide you and your family the financial protection that you are looking for. You can get a life policy quote from our financial associates and settle down with a safer and happy life.
Life insurance is very expensive
The most widely prevailing misconception about life insurance among Bangladeshi people is that it is not affordable. Owing to this common misbelief, many potential insurance buyers do not move forward with making a purchase. The fact is, you can avail a life insurance policy which matches your need and level of income. By starting off with a basic policy, you can purchase additional coverage later when your income increases. MetLife Bangladesh’s financial associates can recommend appropriate premium for you through financial underwriting.
I am single and young, I don't need life insurance
It is ideal to purchase life insurance when you are still young because it costs you the least to avail life policy when you are healthy and at a young age. With time, you possess the chance to become prone to medical conditions which will make your life policy expensive. Planning your life ahead not only assists you to ensure protection for yourself, it protects your family as well.
My employer provides me with life coverage and it is enough
The life policies that your employer offers usually have a limited coverage and you do not have the flexibility to customize the policy as per your need. These policies are not transferable. When you move on with your career and leave your current job, the policy will no longer be in-force making you and your family vulnerable to potential financial threats. The tax rebate that Bangladesh government provides is not applicable for the insurance policies that one gets from the employer. With your own life insurance policy, you will get tax waiver benefit.
I can’t get life insurance because I have health issues
Unless you have severe health conditions, you generally can buy life insurance. Regular health conditions such as having high cholesterol or diabetes will increase your premium amount. But you can get insured with a little higher premium amount. You can choose from MetLife Bangladesh’s health insurance policies as per your need.
At my age, I will not be able to get life insurance
In our country, a person can usually buy a life insurance up to age of 55 years unless the person has severe illness. The cost of coverage, of course, is much higher for older people as the mortality risk is higher than younger people.
Most of the people of Bangladesh are still unaware about the benefits of life insurance policies. Rather, they are misguided by common misconceptions. If you want your and your family members’ lives and financial security to be protected, you will find information about the most suitable insurance policies for you online. It is you, who can ensure a better future for yourself by taking the smart decision.
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