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Home Finance A Comprehensive Guide On How To Compare Term Insurance Plans Online

A Comprehensive Guide On How To Compare Term Insurance Plans Online

When it comes to term insurance, there are plenty of options to choose from. While on one hand you can go the old-fashioned way and buy a term insurance plan offline from an insurance agent, on the other hand, you can get an online plan. The modern-day term plans are all available online and that too with a host of benefits. From the option of online term insurance policy comparison, to instant approvals, these plans are very handy indeed. Read on to know how you can compare term insurance plans online and find your ideal cover.

Online term insurance policy comparison – a step by step guide

You should always compare term insurance plans before you make a purchase. The process is very simple. Here are the steps involved:

1. Visit the aggregator’s website –

Start off by visiting the official website of a trusted insurance aggregator. There are many such websites in India and all are very reliable. These websites not only help you to compare, but they also offer other tools such as a premium calculator which make it easier for you to find your ideal cover.

2. Enter your requirements –

Once you land on the website of your preferred insurance aggregator, you need to get down to the actual process of comparing. To compare term insurance plans, you first need to enter your requirements. Enter your coverage amount, tenure of the plan and other such details related to the life cover you want to buy.

3. Enter your personal details –

Next, you need to enter your personal details such as your name, address, age, health conditions, lifestyle habits, etc. This is needed because your term insurance premium will depend on many of these factors.

4. Scan through the options –

Once you enter all the necessary details, the results will flash on the screen. Carefully go through the plans, their prices, covers, ratings, etc.

5. Make a selection –

After that, all that you have to do is select a plan that matches your requirements. Make sure you assess the covers and price of the plan very carefully because a mismatched cover will not be of the greatest use to you.

6. Buy the plan – 

You can buy the term insurance plan then and there from the aggregator’s website. Or, you can head over to the official website of the insurance provider that is selling your chosen plan. Pay the premium and get the policy issued in your name. These are the simple steps that you need to follow when you go for the online term insurance policy comparison. As you can comprehend, these steps are very easy to follow and that is why you should compare term insurance before you buy a policy. When you compare, you can easily locate the best term insurance policy at the best possible rate. Also, you get to buy the plan instantly and have an uninterrupted life cover. So go ahead and get your online term insurance plan after comparing the options and enjoy all the benefits.

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