APRIL 17, 2025

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Insurance offers protection, but buying it without proper research can lead to problems. Here are 5 key mistakes you must avoid to make an informed decision while buying insurance.

Ignoring your actual coverage needs

If you don’t consider your age, health, income, and family size, you may end up with a plan that falls short during medical or financial emergencies.

Prioritising premium over coverage

A low premium may seem appealing, but it could mean higher deductibles, exclusions, or inadequate cover when you really need support.

Overlooking policy terms and exclusions

Not reading the policy terms can lead to surprises like waiting periods or claim rejections due to uncovered conditions.

Incomplete or false disclosures

Hiding health issues or poor lifestyle habits can lead to claim rejection or cancellation of your policy during unforeseen events.

Skipping policy comparisons

Choosing the first policy you come across could mean missing out on better coverage, lower premiums, or additional benefits offered by other insurers.

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