Life Insurance

1. Life Insurance

2. Seven Steps to Purchase Right Insurance Policy Online

3. Your future financial needs and current standard of living are necessary to consider while finalizing your insurance coverage. Online life insurance is an integral part for those who have dependents. However, selecting the appropriate plan with the right cover is very much important to make sure that the purpose of policy is successfully met. Below are 7 steps on getting covered the correct way: • Estimate Insurance Amount Sometimes, people know the importance of life insurance but struggle to calculate the exact amount needed. It is an important factor because in case customer miscalculates, then he or she could end up leaving his or her family in a tight spot. The exact amount is based on how many dependents buyers have, children’s dependency, customer’s assets and liabilities etc

4. Consider • Take into account all the charges applicable, including fund management charges, premium charges, rider charges, mortality charges and administration fees and so on. • Recently, Insurance Regulatory and Development Authority declared various changes with regards to these charges to make policies more customer-friendly. Do not forget to check how much it would cost to purchase a plan online rather than offline. Online comparison of different policies available in the Indian insurance market as well as the cost associated to know whether one insurance company is being unreasonably expensive. But, do not rush to an insurer just because the plan is much affordable.

5. Know More About Your Insurance Service Provider • People purchase insurance to protect them and their families against any unexpected events. But, what if your family is unable to obtain the amount you were covered for because of some reasons? Hence, ask your relatives, colleagues and friends about their experiences with different insurers. Remember to check the claim settlement ratio and don’t be lured by attractive deals, committed by agents. Always do the necessary ground work.

6. Check the Riders • Check the rider cost and what it provides. Insurance companies in India give riders like accidental death rider that would almost double the coverage if the policyholder’s death is cause because of an accident. Read the policy documents and disclaimers carefully because it could help insured in the long run and avoid conflict with the insurer at the time of claim. Review the insurance coverage, term period, deductible charges etc.

7. Don’t Buy Too Many Policies • Purchasing too many policies does no good. Generally, it happens when individuals buy plans blindly to avail tax benefits. Managing too many policies is also not easy. • Clear Your Doubts Related to Insurance • In some cases, customers may not have the time, the objectivity or inclination to get a plan in place. Take help of a professional advisor who can guide you through the entire procedure. • Review Insurance Needs • There could be a change in your condition. For example, you might have owned a term plan when you were married. But, when you have children, it’s time to review a policy. Therefore, relook your policy needs before it lapses. Source: http://blog.policyboss.com/insurance-broker/seven-steps-purchase-right-insurance-policy-online/

8. Know more on Life insurance: https://www.bajajallianz.com/Corp/life-insurance/life-insurance.jsp Followus on https://www.facebook.com/bajajallianzlifeinsuranceltd http://plus.google.com/+bajajallianz/posts https://www.linkedin.com/company/bajaj-allianz-life-insurance-co-ltd- https://instagram.com/bajajallianzlifeinsurance https://twitter.com/bajajallianzLIC https://www.youtube.com/user/jiyobefikar

9. Thank You…!!