Life insurance policy, if selected well and with the right mindset, can provide you the much necessary financial cover in case of any unforeseen situation. However, there are several buyers who buy the life insurance coverage just for the sake of it without knowing the actual reasons behind that. According to PNB Metlife, many buyers invest money in life insurance for certain wrong reasons which are explained below: Want to Save on Tax, Want guaranteed returns, No Medical check-up required, Personal Favors avoid using these points and invest your money in a good way.