Prices Increasing soon Prices Increasing Soon

6 Must-Dos If You are Getting Insured

Buying an insurance policy is not child’s play. You spend a significant amount of money to secure your future and your family’s financial security. From health, which is priceless to a luxurious car; from your dream home to a long-awaited vacation, everything is insured today. But the complete onus is not on the companies offering insurance.

Read more
Gets ₹1 Cr. Life Cover at just
COVID-19 Covered
The Policybazaar Advantage
Dedicated claim support for family FREE
Upto 10% discount for buying online
Only certified experts will call you on 100% recorded lines
We are rated~
rating
6.7 Crore
Registered Consumers
51
Insurance Partners
3.4 Crore
Policies Sold

#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply

By clicking on "View plans" you agree to our Privacy Policy and Terms of use

~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ

Life is Unpredictable! Protect your family’s future
Get ₹1 Crore Life cover starting from ₹384/month+
+91
Secure
We don’t spam
Check Your Premium Now
Please wait. We Are Processing..
Get Updates on WhatsApp
The Policybazaar Advantage
Policybazaar Advantage Icon
Dedicated claim support for family FREE
Policybazaar team will help and support you at the time of claim. A personal claim handler from our team of experts will get in touch with you when your nominee applies for a claim on our website.
Policybazaar Advantage Icon
100% calls recorded to ensure no mis-selling
We will make sure you get what is promised by the advisors. We conduct regular monitoring of our calls to make sure you get the best experience.
Policybazaar Advantage Icon
Exclusive lifetime discount upto 5% for buying online
The discounts will be valid for the entire policy payment term and is not available if you choose to buy the insurance through offline agents.
Policybazaar Advantage Icon
Advisors available in your city
Our advisors are available in more than 55 cities across India and can help you at your doorstep in understanding the plans and in documentation.
Policybazaar Advantage Icon
Refund at the click of a button
In case you aren’t happy with your purchase, you can cancel your policy hassle-free at the click of a button. We will help you with the cancellation and refund of your policy.

As a buyer of an insurance policy, you too have some responsibilities which are critical to safeguard oneself from any possible contingencies.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Shop Around for the Best Deal

It is a must to scan through the options available in the market before finalizing an insurance policy. Compare the price quotes and features provided by each insurer for a particular product. It is similar to the situation where you plan to move to a new city and follow a thorough research related to the house you would be staying in. Buying an insurance plan is no different and needs as much discretion.

Know Your Insurer

One must properly analyse the background of the insurer before committing to buying a product from them. Ignoring the customer-service rating or higher than average complaint ratio can land you in trouble. It is the responsibility of the customer to evaluate parameters like claim settlement ratio, average turnaround time for settling a claim and solvency ratio. These metrics are important and shouldn’t be ignored.

Read the Fine Print

Being impatient and often irresponsible or too trusting, we generally ignore the fine print in legal documents. In the case of insurance, we are satisfied with the inclusions explained by the agent instead of reading the documents and understanding all the features and exclusions present in the policy. Undoubtedly, it is tough to read the document at one go and the detailed legalese can be intimidating.  This is why insurance companies offer a free look period of 15 -30 days for the buyer to read the document and agree to the policy terms. When you buy a product, you do it after cross checking its price, specifications, manufacturing date and expiry date. Similarly, you should purchase the policy only after verifying every detail and being comfortable with it.

Furnish Genuine Details and Avail Benefit's

savings list might vary from one insurer to the other but we need to inform the insurance company about the criteria we qualify for the savings available. Similarly, we need to inform the insurer about our health conditions. Filling up genuine details can help you avail better benefits.  

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
Select an Adequate Sum Assured and Avoid Being Under-Insured

There are no strict rules but a general assumption of people that sum assured for life insurance policy should be 8 to 12 times your present annual income. But in a scenario where an individual is the sole earner for a family of several kids, the sum assured is surely to differ from the one having two earning members and 2 children studying in school. So, it is not solely about the insured’s income but also the lifestyle expenses, the family needs to maintain after the demise of the insured.

Do not Concentrate Only on Price

If we focus solely on the premium rate and settle for a limited plan for a lower price, then we might land up paying more in the long run. There would be a large depreciation in the cover amount and no insurance company can be blamed for the losses we suffer as buyers.
Last but not the least, we shouldn’t wait too long to purchase an insurance policy because the sooner you buy, the cheaper will be the plan and that too with numerous features.


Premium By Age

Life insurance articles

  • Recent Article
  • Popular Articles
09 Aug 2023

What High Net Worth Individuals (HNIs) Do To Secure Their...

High net worth individuals often opt for life insurance plans to

Read more
28 Jun 2023

A Review Of ICICI Prudential Life Insurance

“Policy Bazaar insurance clarified the term policy for me, so

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best

Read more
20 Jun 2023

Best Life Insurance Policy in India with High Returns

The best life insurance policy in India is a type of life

Read more
20 Jun 2023

Which Insurance is Best in India?

Insurance is a financial product that transfers the risk to a

Read more
15 Dec 2021

Life Insurance for Parents in India

With the increase in the average life expectancy rate, the older population in India is on the rise. Most of the

Read more
08 Jun 2022

Life Insurance for NRI

Going beyond geographical boundaries to study or pursue a career abroad is a common aspiration for many

Read more
14 Apr 2014

Life Insurance Quotes

Life insurance quotes are the approximate premium rates for the specific life insurance policy. It helps you

Read more
27 Jun 2023

A Review Of HDFC Life Insurance

“I recently bought an HDFC term plan and it is the best decision I have ever made. I feel so good knowing that

Read more
26 Dec 2022

Canara Guaranteed Fortune Plan

Canara HSBC life insurance company introduces a guaranteed fortune plan that provides assured benefits to life

Read more
top
Close
Download the Policybazaar app
to manage all your insurance needs.
INSTALL