Life insurance is an important financial requirement. It helps you secure your family and live in peace. Insurance providers in India have been offering different life insurance products to help you choose the most appropriate product for all your financial needs. Therefore, it is important to analyze life insurance plans based on their features and cost to determine the most suitable and affordable product. With technological advancements, you can utilise the online platform to find the right insurance quotes. Here is a detail to help you best in this regard.
 

Before we get started, let us understand how life insurance quotes can benefit you during the long-term investment.

Why are Life Insurance Quotes Necessary?
 

Life insurance is the most important step in your financial goals. It is necessary for the following reasons:
 

• It helps understand the features of different products.
• Helps evaluate the products based on their cost.
• Helps in choosing the most affordable product.
• Choosing an affordable product will ensure you stay invested long-term without affecting your current financial condition and lifestyle.

 

How to Get Life Insurance Quotes Online?
 

Getting life insurance quotes online are a simple process. It is effortless and less time-consuming when you have the necessary financial information.

 

Many insurance providers offering life insurance online will have the online premium calculator available on their official website. You can access it to determine the insurance premium quotes for the products based on your requirement. For instance, let us consider our Tata AIA Life Insurance Term Insurance Calculator. It will help determine the premium for the term plan based on your age, lifestyle, sum assured and policy term.
 

Here are the steps required to calculate the premium:
 

1. Visit our official website for Tata AIA Life Insurance..
2. Navigate to the 'Calculator' tab.
3. Choose the 'Premium Calculators' and the 'Term Insurance Calculator.
4. Provide your name, gender, date of birth, and contact number and choose whether you are a smoker or non-smoker.
5. You will be asked to provide the OTP for the verification process.
6. Enter the OTP and proceed.
7. You will be navigated to a page wherein the product features and samples are illustrated.
8. You can read through the features and provide the required details going further.
9. Enter annual income, education qualification, and occupation and click on 'Continue'.
10. In the following webpage, you can get the quotes for two different term insurance plans varying based on the life cover, policy term, premium payment option, premium frequency and the option to avail the return of premium² option.
11. You can choose the most suitable option by changing the details based on your requirements and preferences. 'Select Plan' to continue.
12. Choose the required 'Additional Covers'. It refers to the add-on rider^# options, and click on 'Continue'.
13. You can view the summary of the life insurance plan detailing the base price, rider^# price, and applicable GST¹.
14. You can continue to purchase the product or go through the same process again to customise the features and choose a better and more affordable option. For instance, you can change the sum assured, policy tenure, frequency or premium, whether monthly or annually, etc.
    
    

Likewise, you can check term life insurance plans to determine the right term plan for your financial needs. The flexibility and simplicity of the online process help you to customise the product based on your lifestyle and financial needs to determine the most suitable and affordable life insurance plan.

 

Benefits of Choosing Life Insurance Policy Online
 

While there are different methods to choose life insurance, the online method is considered beneficial for the following reasons:
 

•  Simple process - Getting life insurance quotes online is simple as the calculator is easily accessible and extremely user-friendly. You can utilise it wherever you are connected to the internet.
• Cost-efficient - The tool is readily available online and completely free of cost. You need not take the time and effort to reach the nearest branch office to enquire and check the products.
• No intermediaries involved - While you get insurance quotes online, no intermediaries are involved. Therefore, you need not be concerned about the agency charges.
•  Flexibility - You can change the factors that affect the premium, such as the life insurance cover, premium payment mode and frequency, etc., based on your convenience and affordability to find the most appropriate choice.
• Choice of riders^# - You can consider the cost of the individual riders^# and its impact on the overall cost of including the rider^# options in the base plan. You can make a well-informed decision and invest in it better and longer.
   

At Tata AIA Life insurance, we provide instant customer support while you access, choose and purchase life insurance plans online. In addition to term insurance plans, we offer comprehensive life insurance plans that combine life insurance with savings and investment benefits. Moreover, we provide various customisable products to help you modify the base plan according to your financial condition and requirements.
 

Conclusion
 

Life insurance plans provide the necessary financial shield to help you protect your family in your absence. Insurers offer wide-ranging life insurance solutions to enhance protection based on individual financial needs. Therefore, you can choose life insurance policies online based on product options and flexible features with emerging technological developments.

Insurance providers offer online calculators to help you calculate the premium for the products you choose. It is a simple, cost-effective and less time-consuming process online. You can use them, increase your knowledge about life insurance products, and choose the ideal product for your financial needs. 

L&C/Advt/2022/Dec/3097