Would you like to buy life insurance, but do not know what to do next? Start with the financial evaluation.

A life insurance plan offers your family a lum-sum in the event of early death.

The sum insured that will be repaid by the plan will help meet the basic financial needs of your family members.

There are many futures plans in the market. The plethora of options makes it hard for the common man to choose the most appropriate plan.

To make this search easy and convenient for you, you can follow this step-by-step approach:

Also Read: Whole Life Insurance Policy

Do you have question “how to compare life insurance policies?” : let’s see how its work…

5 Step to Compare Life Insurance Plan:

compare life insurance

Step 1: Evaluate your needs

A life insurance plan should be enough for your family’s needs in your absence.

With this in mind, assess sources of income, number of dependents, existing debts and liabilities, and expenses incurred to maintain their current lifestyle. In addition, if you plan your spouse’s education, marriage, or retirement for your spouse, the amount regularly invested in these instruments must also be taken into account.

To calculate (Compare Life Insurance Plan ) the amount of coverage you need.

Step 2: Compare the quotation and choose the variant of the life insurance plan that suits you best.

There are three types of compare life insurance plans. Fixed-income plans, monthly earnings schedules, and monthly earnings-increasing schedules available on the market.

The premium paid to buy a long-term plan depends on the coverage, the duration, the type of plan, the age, the sex and the smoking habits.

To get the best deal for the plan, we recommend a careful comparison of offers.

Step 3: Review the life insurance company’s claims report.

When choosing the optimal plan, do not forget the possibility that the insurer will not penalize the promised amount with your family members.

For this reason, you should check the percentage loss ratio to find out which insurer pays the claims best and to what extent.

In the period 2017-2018, Max Life paid 98.26% of total claims

Step 4: Inflation factor

Although age and duration of coverage are the key factors to consider when purchasing a long-term plan, you should consider the impact of inflation on demand. in lifestyle.

To prevent inflation from breaking much of the face value, it is advisable to opt for a life plan that offers inflation protection.

Step 5: Find the  Riders

Users help to improve the scope of the life insurance. Several insurers offer the possibility to involve cycling cyclists, which increases the level of protection.

For example, Max Life offers the driver full accident benefits and long-term plans in which the insured receives additional protection in the event of partial or total disability due to an accident.

Here are the five easy steps to choosing the best life insurance plan in 2019.

Follow them, make a quick offer, and ensure the financial security of your family’s future today.

Also Read Top 5 best term insurance plans in India 2019

Let’s look at the factors to consider when comparing life insurance plans:

It is important to compare life insurance as all life insurance companies on the market offer different maturity policies.

In addition, each life insurance company offers various long-term plans. And analyzing the right plan for yourself can be a task.

But do not worry. Our tool has made a dessert from such a laborious task.

The online life insurance comparison tool makes all assumptions superfluous.

Not only that, but it also guarantees you the best long life insurance at an affordable price!

Premium against the size of the cover:

Everyone wants to be sufficiently covered. Compare life insurance premiums for coverage of the insurance company.

Ideally, this should be important enough to cover all your debts and help your loved ones live a comfortable life after disappearing.

However, the price for the selected cover should be in the bag!

Life Insurance plan Features:

Always discover the features and benefits of insurance companies by comparing the term insurance online.

Be careful, if the insurance policy you wish to buy offers options, the flexibility in choosing the mandate you choose, the amount of the insured sum, the characteristics considered as incurable / serious illness, and the allowance will provide for accidental death and conditions for Payment of the premiums.

Additional Rider benefits:

Rider are additional components that improve liability insurance.

You can purchase the life insurance Drivers for an additional fee.

Compare the competitors offered by different insurers before buying a life insurance online.

Among the key drivers you may want to include in your policy are the key pathologist, the fatal injury insurance and so on.

However, it is advisable to buy only one that suits your needs.

Also read: Postal Life Insurance Plans

Claim Settlement Ratio:

The Claim Settlement Ratio of the Company reflects the share of total receivables in total receivables.

The higher the settlement rate, the more your insurance company will respond to your request.

It is very important to monitor the claims settlement report to ensure that the claim is resolved as needed.

Therefore, consider this important factor when comparing life insurance plans.

Reliability of the life insurance company:

Before buying life insurance, make sure that the desired insurance company is sufficiently reliable and stable to develop the trust of its clients.

Based on the reputation of your company and your good financial will, you will get a clear picture of your company and bankruptcy.

Therefore, do not forget to compare the basic stability conditions of the insurance company before buying a long-term insurance online.

Also read Life insurance for children

Life Insurance Premium calculator: factors that influence your premium

Life Insurance premium calculator:

A life insurance calculator is a particularly useful tool to calculate the monthly / annual premium of the life insurance policy.

Generate results on the amount of the premium you should be paying to get the desired amount, based on your financial goals.

It automates the high-end computer process, makes it transparent and uninterrupted, and saves time.

In addition, the calculation of the electronic premium minimizes the risk of error in manual calculations.

In addition, you can adjust the amount that the account holder should receive in the event of absence.

The life Insurance Premium Calculator can also be adapted to your preferences and comfort.

But do you know how to use the term calculator for life insurance premiums?

The following factors are used to calculate the life insurance premium:

Age of the insured person:

Age is the decisive factor for obtaining the long-term insurance premium. At a young age, you are less susceptible to life or death.

The insurance company could therefore save money in the near future because the chance of filing a claim is lower.

Also Read: Corporate Insurance Policy & Plan

Personal Habits:

If you are alcoholic, drug or tobacco dependent, your insurance company will charge you a bomb for your reward.

Sometimes the rejection of policies changes. People who are not dependent on these habits pay premiums that are about 30 to 70 percent lower than those that depend on them.

Medical records:

You will receive a lower premium if you have no family history of cancer, Alzheimer’s disease, etc.

Owner of Insurance Policy:

The life Insurance Premium Calculator will be adversely affected if you purchase a life plan that covers your retirement age and until you have paid all your debts.

Cover / Sum insured:

It is recommended to choose coverage according to your needs. The higher the sum insured, the higher the insurance premium.

Also read How to calculate life insurance quote?

Advantages of a calculator in the life insurance:

The way you research and develop before you buy anything online makes perfect sense if you do the same exam before buying a life insurance online.

Here are the benefits of a life insurance calculator:

  • The life Insurance Calculator helps you to determine the exact premium for the amount of cover you have chosen to protect your family in the event of an early death.
  • Buying a life insurance online becomes a simple and convenient process
  • Become a knowledgeable customer about market knowledge
  • You can see the plans of various insurers under one roof
  • They compare life insurance features and tariffs of different schedules to get the best deals!
  • Online insurance is cheaper and easier to understand

How to Use a Life Insurance Calculator?

The life Insurance Calculator prompts you to enter your personal information such as name, gender, date of birth, mobile number, marital status, annual income, smoking and chewing behavior, desired coverage and age.

Period until which the police should cover you, etc.

After entering this information, the life Insurance calculator will give you a variety of life insurance plans offered by different insurers.

Benefits Of Term Life Insurance 2019 – In Hindi

Choose the Buy Now button if you think you can get the right coverage at the right price.

The life Insurance Calculator prompts you to enter the details of your address and landlord, and then reference the Payment Gateway option.

You can now pay for insurance purchases online with your debit card, credit card or your own banking network.

FAQ’s:

How is the insurance premium determined in life insurance?

The premiums you pay for your liability insurance are determined solely by the following factors:

  1. Your age and your gender
  2. Sum Assured
  3. health status
  4. The duration of the insurance period
  5. Frequency of payment of the price
  6. The payment has been decided

Of course, the price for the duration of the policy remains unchanged.

And the good news is that you do not have to invest a large amount of premiums every year.

The more you buy a young futures plan, the cheaper it is.

What mandatory documents are required to purchase the online payment plan?

For the online purchase of a life insurance, a list of documents is required. They are listed below.

  • Proof of income / employment
  • proof of age
  • educational documentation
  • Proof of home address and correspondence
  • proof of identity
  • photography
  • Copy of the PAN card

What is the best long-term policy for life insurance?

The five most important life insurance Companies in India in 2019 are:

  1. ITerm Plan from Aegon Life
  2. Max Life term plan online
  3. ICICI Pru iProtect Smart
  4. HDFC Click 2 Protect 3D Plus
  5. SBI eShield

What are the death exclusions that are not covered by the liability insurance?

The following types of accidents are not covered by a life insurance policy:

  • Death by suicide
  • murder
  • An accidental death can be caused by the fact that the driver is under the influence of alcohol or drugs
  • Accidents during motorsport or car racing
  • Deaths due to reasons related to pregnancy, eg B. birth
  • Death during adventures and sports activities
  • Death is due to existing health conditions prior to the adoption of the Directive
  • Deaths in geographic locations not covered by the police
  • Deaths from illegal activities

The article was written By


Swapnil R. Chavan (Digital Marketing & SEO Expert)



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