1What is insurance and why is it so important for you to buy insurance? You should know how to assess what risks you face and how to protect yourself using insurance.

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2The insurance you buy should suit your needs well. How do you pick the right policy?

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3 If you want a basic policy with just life protection, you can buy a term insurance policy that gives high coverage at a low premium.

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4 Inflation eats into your savings and also the value of your insurance coverage. So what do you do to provide for your retired life? Unit Linked Plans can have the effect of offsetting the impact of inflation but there is the downside that the entire risk of the funds being invested in the capital markets is borne by you, the policyholder.

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5 The law says you should have a third party liability cover for your vehicle and prudence says you should also buy own damage cover.

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6Updating and maintaining your policy or settling your claims. You should expect to get the best service from your insurance company. If you have any complaints about the services of your insurer, you can approach the branch servicing your policy and complain to Grievance Redressal officer there. You can escalate to IRDA Grievance Call Center if your complaint is not addressed.

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7If your complaint is not resolved to your satisfaction yet, you can approach the Ombudsman under certain circumstances.

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