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Life insurance quotes are the approximate premium rates for the specific life insurance policy. It helps you understand the benefits and features of life insurance. To get the life insurance policy quotes, you need to provide your age, medical history, lifestyle habits, occupation type, desired sum assured, policy term, and annual income. Let us take a look at how you can compare life insurance quotes and their benefits.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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Here is a list of all the benefits of comparing life insurance policy quotes online:
Paperless Procedure
You can make purchase a life insurance policy online with reduced paperwork by comparing life insurance quotes.
Informed Decision
The comparison allows you to make an informed decision about the features, T&Cs, and benefits of life insurance policy you want to buy.
Quick and Convenient Buying Process
The easier process makes the policy buying process very convenient as you can purchase a policy in just a few minutes from the comfort of your home.
Term Plans
Life insurance quotes depend upon the following factors:
Age, medical history, occupation type, and lifestyle of the life assured: The life insurance policy quotes depend on various factors like your age, pre-existing medical conditions, and your type of occupation. The life insurance premium rates increase with age and if you have any pre-existing health conditions. The insurance company will also evaluate your risks depending on the nature of your profession. If you are a healthy, young non-smoker and you have a dangerous job, your life insurance quote may be higher regardless of your physical condition. Professional divers, pilots, oil rig workers, and members of other jobs with a high risk of fatal injuries may have higher rates than individuals in occupations where the risk of injury or death is low.
Policy Term: The life insurance quote increases with an increase in the policy term as you will be covered under the policy benefits for a longer time.
Type of Life Insurance Plan: The type of coverage you buy also affects the premium rates you need to pay for a specific life insurance policy. Term life insurance is a type of life insurance plan with the most affordable life insurance quotes. ULIP plans are more expensive because a portion of your money goes towards other financial investments that the company makes on your behalf. This, in return, allows your policy to accrue cash value within a certain period.
Sum Assured: Life insurance policy quotes increase with the increase in the sum assured. The higher the life cover, the higher will be your life insurance premium.
Premium Paying Term: A shorter premium payment term will be available at a higher life insurance quote than that of a longer premium payment term.
Premium Payment Frequency: The life insurance quotes for modal premiums such as half-yearly, quarterly, and monthly cumulatively turn out costlier than that of annual mode as the cost of administration and operational costs of a life insurance company increases for administering a policy in modes other than annual.
Add-on Riders: Additional riders provide enhanced life coverage at a nominal extra cost. Therefore your life insurance policy quotes increase with the addition of riders to the base plan.
You should compare life insurance quotes on the basis of the following points:
Term and Conditions of the Policy: You go through the policy T&Cs thoroughly, as once you have purchased, the plan will function according to the T&Cs listed on the policy documents.
Life Cover Requirements: You should make sure that the life insurance plan fits in with all your requirements. The sum assured should be large enough to cover your family’s financial needs in case of your unfortunate absence, and the policy term should be long enough to cover you at least until retirement.
Inclusions and Exclusions: Before purchasing the life insurance policy, you must ensure to go through the inclusions and exclusions of the life insurance policy. This can help avoid any confusion at the time of claim registration.
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You can request life insurance quotes online in just a few simple steps:
Step 1: Visit the life insurance plans page
Step 2: Fill in the essential information like name, gender, contact number, and date of birth
Step 3: Answer questions regarding your occupation type, annual income, educational background, and smoking habits
Step 4: Go through the life insurance quotes and select the plan you want to purchase
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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