Archive for July 11th, 2009

Compare Insurance Plans Before Buying

Compare Different Insurance Plans Before Buying

Few years back there was only one Life Insurance Company and few general  insurance companies. Today there are more than 20+ Life Insurance companies operating in India and few more are about to come.

Though the purpose of Insurance remains the same, every Insurance company has something different to offer. It is very difficult to compare Policies from all the Insurance companies. It is relatively easy to get quotes from at least three Insurance companies and compare there products.

The following considerations should be kept in mind before choosing a Insurance Company.

  • The background of the promoters and its joint venture partners.
  • Number of years into Insurance.
  • How good is the company in claim settlement.
  • Service and friendly work force.
  • Use of technology.

Benefits of getting quote’s from different companies.

  • You can choose the best suited product according to your own needs.
  • Chances are that you get the best pricing for the product you choose which can bring down your cost.
  • By comparing offers from different companies you insure that you have not bought a inferior product from the market place.
  • You get a clear idea of past performance such as bonus declared or returns given in case of Unit Linked Plans (ULIP’s).

Few years back there was only one Life Insurance Company and few general  insurance companies. Today there are more than 20+ Life Insurance companies operating in India and few more are about to come.

Though the purpose of Insurance remains the same, every Insurance company has something different to offer. It is very difficult to compare Policies from all the Insurance companies. It is relatively easy to get quotes from at least three Insurance companies and compare there products.

The following considerations should be kept in mind before choosing a Insurance Company.

  • The background of the promoters and its joint venture partners.
  • Number of years into Insurance.
  • How good is the company in claim settlement.
  • Service and friendly work force.
  • Use of technology.

Benefits of getting quote’s from different companies.

  • You can choose the best suited product according to your own needs.
  • Chances are that you get the best pricing for the product you choose which can bring down your cost.
  • By comparing offers from different companies you insure that you have not bought a inferior product from the market place.
  • You get a clear idea of past performance such as bonus declared or returns given in case of Unit Linked Plans (ULIP’s).