POSTED BY June 13, 2013 10:42 am COMMENTS (2)ON
i m planning to buy a term plan but i totally confused with online & offline plan why there is a big difference between these two in terms of money & also with the claim ratio of LIC & Aegon Religare so plz, help me out from this confusion
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2 replies on this article “Term insurance charges varies from company to company”
Dear Alok, please spare an Hour from your busy time & read the past discussions here in the forum on the same topic, you are asking & you ‘ll get a lot of Info.
online plans will be cheaper than offline plans (like LICs) because there is no agent commission to pay. There is also a different in the way in which risk is evaluated.
Even among online plans there will be difference in price since risk evaluation strategies followed by each company is different.
What to do?
Choose an online plan from an established insurer (at least 10 years or so old).
Choose duration only until your retirement
ensure you reveal all relevant details in the application form.
That is all anyone can do.
The most important is to be sure if the amount you want to be insured for is sufficient