We all are looking to reduce our monthly expenses and hence, life insurance in India should be no exception. The value being insured by a cover should be more evident now than ever, but it doesn’t mean that people should compromise with quality while reducing rates. Below are four different ways which will help you to buy life insurance online at really affordable rates:
- Say ‘NO’ to Commission
Commission is how insurers cash in on policies, and often this hidden value increases the cost of insurance. Purchasing a policy through agent providing commission free life insurance in India is really the best possible way to save some handsome amount of money over the long term.
Customers will find it really affordable than a commission based premium. Policyholders will definitely have the mental fulfillment of knowing that their hard earned money is getting them the best quality coverage available.
- Shop Around
If you do little research online, you will find that some insurance companies in India may offer the same coverage for an affordable rate in the long term.
- Select the Right Term
Deciding your long term financial plan is an essential part of the research for a plan to suit you. Usually, majority of people opt for life insurance to last until they’ve paid off the mortgage or until the child become financial independent.
The financial security following such milestones clearly means that coverage may not be such a need. Hence, decide how long you require to be insured for can be the easiest way to cover unnecessary spending.
- Follow Healthy Lifestyle
Standard of living affect the cost of life insurance because insurer calculate the risk factor involve with you. Therefore, changes for the better could surely save some amount on premium. If you are a smoker or heavy in weight, then give up smoking or lose weight and it’s most worth letting your insure know.
Insurance companies in India may expect you to submit evidence of lifestyle changes, therefore, make sure you’re able to do so.