In summary

Life insurance quotes help you estimate the premium for a chosen cover and policy term before you apply. Comparing quotes can help you assess similar plans on cost, cover and policy features.

• Your age, health, lifestyle, income, cover amount and policy term can affect the quoted premium.
• A quote is an estimate. The final premium may change after you submit your application and the insurer completes underwriting.
• Compare similar cover amounts and policy terms, then review exclusions, riders and the insurer before choosing a policy.
• You can request life insurance quotes online by entering basic personal, lifestyle and coverage details.

Once you know the cover you need, compare life insurance plans and get a quote to assess the premium and policy terms that fit your requirements.

For example, when you request a quote for term insurance, the quoted premium can depend on your age, health information, lifestyle, cover amount and policy term. Age is one of the factors used in calculating life insurance premiums.

A quote should therefore be treated as an estimate rather than a final premium. After you submit the application, the insurer may assess the information provided and any required medical details before confirming the policy terms. Insurer guidance states that underwriting can result in the premium or cover being adjusted after the application is assessed.

When comparing quotes, check:

• Cost-effectiveness: By comparing quotes from different insurers, you can identify the most cost-effective policy that offers the desired coverage amount and benefits.
• Customisation: Each insurer offers a variety of policy options and riders. Comparing quotes allows you to tailor the coverage to your specific needs and preferences.
• Transparency: Comparing quotes provides transparency in understanding the terms, conditions, and costs associated with different policies, enabling you to make an educated decision.
• Value for money: By comparing quotes, you can ensure that you are getting the best value for your money in terms of coverage, benefits, and premium rates.
• Exclusions: Read the conditions that specify situations or circumstances not covered by the policy.

The Insurance Regulatory and Development Authority of India (IRDAI) requires life insurance product information to clearly explain the scope of cover, benefits, exclusions and applicable conditions. Once you have comparable quotes, review the policy details alongside the premium rather than choosing based on price alone.

Providing accurate information is important. Medical underwriting can consider factors such as age, health conditions, weight, lifestyle, smoking habits and family medical history. If the information entered for the quote differs from the information in your application, the final terms may differ from the initial estimate.

• Saves time and effort:

Checking multiple life insurance quotes online is quick and convenient. You can review different policy options from home without visiting multiple insurers or agents.

• Helps assess suitable coverage:

Online comparison allows you to evaluate different life insurance policies based on coverage, policy term and available features. This can help you select a level of cover that aligns with your financial needs and family responsibilities.

• Helps compare premiums:

Comparing quotes can help you see how premiums vary for similar coverage and policy terms. However, the lowest premium may not always provide the most suitable coverage, so consider the policy features, exclusions and terms as well.

• Provides greater transparency:

Online platforms allow you to review important policy information, including terms, conditions, exclusions, benefits and premium details. Reviewing these details can help you make a more informed decision.

• Allows you to review customisation options:

Many online insurance platforms allow you to adjust the sum assured, policy term and premium payment options. You may also be able to review available riders and their additional costs before choosing a policy.

Compare life insurance quotes online through Bajaj Finance Insurance Mall based on your coverage needs, premium, policy terms and available features before making a decision. Get quote!

The initial quote is not necessarily the final premium. The insurer may ask for additional information or medical tests during underwriting. Based on this assessment, the insurer may confirm the quoted terms or offer different terms, subject to its underwriting guidelines.

Use these steps:

1. Decide the cover amount: Assess your income, liabilities, dependants and future financial responsibilities.
2. Choose a suitable policy term: Consider how long your family may need financial protection.
3. Request comparable quotes: Use the same cover amount and policy term when comparing different options.
4. Compare the premium: Check the quoted premium for each comparable option.
5. Review policy details: Check cover, exclusions, riders and applicable conditions.
6. Check the insurer: Confirm which insurer issues the policy and review the information provided about the product.

A comparison becomes more useful when the plans have similar coverage and policy terms. LIC also advises considering factors such as age, occupation, income and insurance needs when selecting a suitable plan.

• Compare multiple quotes: Looking at quotes from different insurers can help you understand the premium and cover options available for similar requirements.
• Provide accurate information: Enter your age, health, lifestyle, income and other details correctly. The final terms can depend on the information provided during underwriting. 
• Check the cover amount: Consider your income, loans, dependants and future financial responsibilities when deciding the amount of life insurance cover you may need.
• Review the policy term: Choose a term that matches the period for which your family may need financial protection. Your age, financial responsibilities and long-term goals can help determine the suitable duration.
• Read the policy details: Compare the premium along with the scope of cover, exclusions, conditions and other applicable features. The Insurance Regulatory and Development Authority of India (IRDAI) requires relevant policy information to be clearly provided to prospective policyholders. 
• Check the final terms: An online quote is an initial estimate. The insurer may ask for additional information or medical tests before confirming the final premium and policy terms.

Explore life insurance plans, starting at Rs. 14/day* through Bajaj Finance Insurance Mall and get quote based on your financial needs and budget.

You can request a life insurance quote through Bajaj Finance Insurance Mall by entering your basic details, sharing additional information and reviewing the plans shown to you.

1. Click on ‘Get Quote’: Click on ‘Get Quote’ to open our online application form.
2. Enter your basic details: Provide your name, mobile number, email ID, date of birth and gender, then click ‘Proceed’.
3. Share additional information: Enter details about your lifestyle, occupation, education, income and PIN code, then select ‘View Plans’.
4. Review available plans: Compare the available cover, policy term, premium and applicable plan features.
5. Select a plan: Click ‘Buy Now’ on the plan you want to proceed with.
6. Speak with a representative: A representative can explain the available products and help you understand the options before you make a decision.

Bajaj Finance Limited is a registered corporate agent under IRDAI composite registration number CA0101. It is not the insurer; the respective insurer issues the life insurance policy.

Review the available cover and premium together before moving from a quote to an application.

The platform can help you:

• Compare available plans: Review life insurance options from different insurers available on the platform.
• Request quotes online: Enter your details and review available plans digitally.
• Review cover and premium: Compare the information provided for different plans.
• Get assistance: A representative can explain the available products after you select ‘Buy Now’.

The platform is a distribution channel and does not underwrite the insurance risk. The insurer named in the policy is responsible for issuing the policy and providing policy related services.

When comparing plans through the platform, check the policy issued by the respective insurer and review its cover, exclusions, premium and terms.

• Focusing only on the premium:

A lower quoted premium does not by itself show whether a policy meets your protection needs. Compare the cover amount, policy term, riders and exclusions along with the premium.

• Ignoring policy exclusions:

Exclusions specify situations or circumstances that are not covered under a policy. Read these provisions before making a decision. IRDAI requires material information about exclusions and policy conditions to be explained to customers.

• Not comparing policy benefits:

Two policies with similar premiums can have different cover structures, riders and conditions. Check the sum assured, applicable benefits and policy terms before choosing.

• Skipping the insurer check:

Check which insurer is issuing the policy and review the product information provided by that insurer. BFL acts as a corporate agent and does not underwrite the insurance policy.

Life insurance quotes provide an estimate of the premium for a selected cover and policy term. They can help you compare available options before applying, but the final premium may change after the insurer reviews your application and completes underwriting.

For a useful comparison, keep the cover amount and policy term similar across quotes. Compare the premium, coverage, riders, exclusions and policy conditions, and provide accurate information about your age, health, lifestyle, occupation and income.

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