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What are the different types of insurance traps and how to avoid them?

Tax season in India is a time of stress and confusion for taxpayers, who need to be aware of insurance traps.


One common trap is the promise of guaranteed returns, which should be avoided since insurance is about protection, not income.

Money-back policies can be a trap due to the low returns and potential for surrender fees.


Triple-benefit policies may be attractive for tax deductions but are not necessarily suitable for everyone.


Non-linked, non-participating, guaranteed endowment policies offer lower returns than other types of investments.


Unlicensed tele-callers may try to trap victims into paying a fee for a lapsed policy.

Understand the policy, shop around, be wary of low prices, and know what you're paying for before investing.


Assess your financial goals and verify information before taking action.

Click here to know more about insurance traps.

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What are the different types of insurance traps? Find out

Tax season is a time of great stress and confusion for taxpayers and it’s important to be aware of the various insurance traps that might come your way. It is important to assess financial goals and verify the information before investing in any policy.

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What are the different types of insurance traps? Find out

Tax season is a time of great stress and confusion for taxpayers and it’s important to be aware of the various insurance traps that might come your way. It is important to assess financial goals and verify the information before investing in any policy.

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