What are the disadvantages of an Insurance policy?

<p>Here are some disadvantages of an Insurance policy:</p><ul><li><strong>Expensive for old people: </strong>People who buy a policy when they develop a medical condition or cross a certain age, will get charged more.</li><li><strong>Issues with claim settlement:</strong> Insurance policies have certain inclusions and exclusions along with terms and conditions for claim approval. There are many instances of claims being rejected or the compensation amount being reduced due to certain clauses of the policy.</li><li><strong>Too many options: </strong>There are many insurers in India offering a wide range of life insurance policies. While this means more choices for buyers, choosing the right one can be overwhelming. Also, many policies are not straightforward and require an understanding of financial products.</li></ul>

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