Is term life insurance good to have. Life Insurance Quotes Online - HDFC Life

While it is easy enough to calculate insurance premium quotes given the high level of interaction, there are some points to note while calculating and comparing premiums online. Insurance life online quote.

Here is a step by step guide on comparing life insurance quotes online:

Enter the sum assured you are looking for

Choose the premium paying term – this could be one-time, equal to the policy term or lower than the policy term

Note down the premium amount for every insurer

Compare the premiums but do not rush into anything – check with the insurance agent for his views on why certain quotes are high/low

In this age, when time is at a premium and the internet is so easily accessible there is an easier way – log onto websites of life insurers and check the premium rates online for your specifications. About every insurance company has a website and most if not all invest a good deal of time and money to make their websites really interactive and friendly for visitors seeking online quotes or even basic plan features.

Broadly these are the advantages of online term plans:

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Premium rates are usually lower as compared to offline insurance policies

Faster turnaround – usually takes three weeks for an insurance company to revert on whether or not the policy has been approved with some cases even resulting in quicker approval

Little to zero paperwork

No need for medical checkup in certain age groups and assured sum value

Term plans are relatively more affordable than alternatives like endowment plans

Individuals can opt for a cover that is more representative of their income level and lifestyle

You can get a discount on the premium for specific cases, like being a non-smoker for instance

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You can separate the investment portion from life insurance by investingin line with your risk profile and investment objectives

Which insurance plan is most suitable?

There are two ways to arrive at the answer.

The first is the good old-fashioned way of collecting all available information on term plans from various life insurers. You do this by:

calling up the agents or the insurance company offices

listing down all inputs methodically in writing or on an excel worksheet

compare plans to arrive at the one most suited to a person of your age and income profile

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While there might be more inputs and steps involved, these are the basic that suffice in most cases while comparing life insurance quotes online. Make sure you are consistent in entering details on every insurer’s website so as to arrive at an accurately compare life insurance plans.

Disclaimer: The entity is a subject to filling of a medical questionnaire

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