In our previous post, we had seen what are the things we should keep in mind while buying life insurance. In today’s post, we will tell you some tips with the help of which you will be able to buy an affordable life insurance policy.
With the help of life insurance tips given here, you can save up to Rs 7500 on life insurance. These tips will help you save money on motor insurance, health insurance, home insurance or any other insurance policy. So let us know how to save our money when we are buying an insurance policy.
Like we had told in the previous post also that due to the high competition in the insurance market, insurance companies give good discounts to entice the customers. But we also mentioned on this that if we do not ask for the discount, you will not get the discount.
So let us see how we can save our money while buying insurance and buy an affordable life insurance policy.
Save your money like this while buying insurance – Save money while buying life insurance
Compare the chosen policy with another company’s policy
If you want to save money on life insurance, the very first thing to do is to compare the policy you are going to buy with the life insurance policies sold by other insurance companies. By doing this you will know whether your insurance policy is cheaper or more expensive than the insurance policies sold by other companies.
To compare policies, you can directly visit the official website of the insurance company or visit the insurance aggregator website where you can compare insurance policies of different companies side by side.
If you find that another insurance company is offering the same policy (which you are going to buy) cheaper and the benefits are also similar, then you should buy your policy from that other insurance company.
It does not take much time to do this but by doing this you can get the same policy from another company with similar benefits for less money.
Here it is also very important to take a policy from a good insurance company which can easily admit the insurance claim.
Compare Life Insurance Premiums
With more companies, it is natural that one insurance company may sell you a policy at a lower premium than other insurance companies to lure customers. So we should take advantage of this opportunity.
So here’s how you will know whether another company’s policy is cheaper or not.
The easiest way to do this is by visiting the website of the insurance aggregator and comparing the premiums of the policies. Such websites help to know how much premium different insurance companies are charging for the policy.
We should buy a policy from that company which gives more profit at lower premium.
The policy can also be bought directly from the website of the insurance aggregator. By doing this, the aggregators give a discount of 10 to 15% on the first year premium.
Another way to know the premium of the policy is by visiting the offices of the insurance companies nearest to you and get information about the policy.
Similarly, policies can be compared by talking to the insurance agent of different insurance companies.
shoot at premium
Like we mentioned in our previous post (in which we told you what questions to ask an agent before buying a policy) that if you do not ask a life insurance agent for a discount on premium, then it will not suit you. Will give That’s why while buying an insurance policy, do some hesitation, pretend that you are not interested in buying the policy right now.
In such a situation, both the insurance agent or the aggregator offer discounts to lure the customer. Ask you to add a little more discount to whatever discount is offered to you. Most insurance agents offer discounts of up to 10-20%.
Most of the people make a mistake here, due to which they have to pay more money on the policy. Don’t you make this mistake. Be sure to ask the insurance agent for a discount when you are buying a policy. Don’t buy the policy if it refuses to give the discount.
Trust me, when he finds that you are not buying the policy, he will definitely give you a discount.
Note here that if you are buying term life insurance then you might not get that much discount. Because in that the commission of the insurance agent is very less. In this situation, even a discount of up to 10% can be considered too much.
Buy a policy online directly from the website of the insurance company
In today’s digital age, every insurance company provides the facility to buy policies online directly from their website. By doing this, you buy the policy directly from the insurance company and not with the help of an insurance agent. Due to which the commission of the insurance company is saved and it can give you the same commission as a discount.
Therefore, before buying an insurance policy, check the premium once by visiting the website of the insurance company. Maybe you can get more discount there.
So don’t ignore buying life insurance online here.
Buy a policy from the website of an insurance aggregator
You can also buy a policy through an insurance aggregator. Mostly, every insurance aggregator offers a discount of 10 to 20% on the premium for the first year. So here if you want to save money on life insurance policy, then visit the website of the insurance aggregator once and check the premium.
You can call the toll free number of the insurance aggregator and talk to them and ask for additional discount.
Note here: Whichever policy is suggested for you to buy, do a little research on yourself first and try to know whether that policy is good for you or not.