Why it is important to compare life insurance quotes?

FPJ Web DeskUpdated: Thursday, January 20, 2022, 05:45 PM IST
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Life insurance is a necessary addition to a person’s financial portfolio. The importance of insurance is that it gives your family the financial protection in case you are no longer around to provide for them. Needless to say, this makes life insurance a priority for people, especially those who are the sole breadwinners in their families.

Even though life insurance companies these days offer wide range of options, you must carefully assess all plans and compare life insurance quotes to make a wise investment decision.


In this article, we will talk about how life insurance quotes help in finding the right plan and why they are important while making an investment.

Comparing life insurance quotes

Thanks to the premium calculators offered by most life insurance companies, it has now become easy to calculate premium quotes quickly. However, before you buy a plan for yourself, it is important to compare life insurance quotes online. This will help you get an objective view of the plan with regards to costs and features.

Here is the step-by-step process to compare life insurance quotes online:

  • Enter the sum you want to get insured for

  • Enter the policy duration

  • Choose the premium payment frequency – could be one-time payment or equal instalments

  • Note the premium amount offered by different life insurance companies

  • Compare them objectively by checking the features and benefits offered by each policy.

Why compare premiums online?

We live in a technological age when time is money and internet has made everything so easily accessible. You can check out premiums by simply logging on to the website of insurance providers and calculating the premiums offered by them by using the premium calculator. This is an easy-to-use tool that makes it effortless to compare life insurance quotes online and helps you make an informed investment decision.


Here are some advantages of buying your life insurance plan online:

  • Premiums are usually lower than what is offered by offline agencies

  • You will get a quick response, usually within 2-3 weeks, whether the insurance company has approved your policy or not

  • No paperwork

  • Complete transparency of process

  • No need for medical check-up for certain age groups

How to calculate life insurance quotes?

One of the first things you need to do when you are financially independent is to invest in a life insurance policy. These plans offer you wide protection at an affordable premium, giving you the ultimate peace of mind that your loved ones will be financially protected, in case something happens to you.

However, with so many options out there, it can be difficult to choose the right plan. But with life insurance quotes, you can get objective information about various aspects, such as type of cover, features, benefits, inclusions, exclusions, etc. that help you choose your policy wisely.

Here are some things you need to keep in mind when you are calculating life insurance quotes.


(Mithlesh Singh is a writer who specialises in writing content on Insurance and Finance subjects. He is a Digital Marketing Consultant, Blogger, and Founder of Tech Preview.)

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