New Delhi, March 21 -- You need to choose the right term insurance policy to provide for your family. Still, it is important to ensure that you don't make avoidable errors such as: inadequate coverage, hazy policy terms, higher premiums, vague add ons etc.

This should be kept in mind so that you don't end up with unfair premium pricing, inadequate cover or miss out important add on options. The following are five errors which need to be avoided while choosing a term insurance policy in India:

The biggest error is underestimating your coverage requirements. Most individuals apply thumb rules or seek guidance from someone else without considering their own financial situation, like pending loans, day-to-day expenses, and long-term aspirat...