Last Updated on January 2, 2016 at 6:38 pm
While trying to buy a term life insurance plan, it is natural to want a listing of premiums offered by all insurers. So we type, “compare term insurance plans” in Google and click on one of the first few links, without scrolling down the page.
The trouble is, most (if not all) of the ‘popular’ insurance comparison portals require activation via mobile. They get your email, mobile no, provide you access only if the mobile number is yours (you need a code sent via sms to get in!).
A few years back, no such personal information was necessary. Soon activation via email was necessary. Entering your email, meant you agree to receive offers and newsletter.
The checkboxes for ‘agree to terms and agree to receive emails’ are now one and the same!
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email! 🔥Enjoy massive discounts on our robo-advisory tool & courses! 🔥
Now, the email is still there, but activation is via mobile. The portal would later invade your peace and privacy with messages, emails and calls.
Are there comparison portal today that list the premiums without seeking your email and mobile?, Yes. You may need to look here:
Someone said in a Youtube video, “the best place to hide a body is in the second Google search page”!!
Wait a minute, do you even need such portals?
No, you don’t. If you like LIC, get it from LIC. Otherwise, you can just get one from a private player who been around for a while (HDFC, ICIC, Maxlife and the like).
I don’t think much about claim settlement ratios: How to choose a term life insurance policy
If you think they are important and want to choose one with a high settlement ratio, then the list will include the above-mentioned names plus LIC.
Either way, you don’t need a comparison portal. Just go to each insurer’s website and play around with their calculator.
If you don’t want to do that and prefer an instantaneous comparison, a portal will help.
Portal or no portal, if you cannot choose/shortlist a life insurer within an hour and decide within a couple of days, you need professional help from someone who does not sell insurance. Do not ask in FB group Asan Ideas For Wealth. Terrible idea.
At the end of the day, choice of insurer will be arbitrary. Either you take that call or let a financial planner take it for you! Buying a term insurance policy is a risk and leap of faith. Not having one is a much bigger risk.
Gaurav Mehta at AIFW asked me if I knew portals that did not ask for personal details.
I did some searching and found these. Highlight the urls with your mouse, rick click and select, “go to”. Not providing a link because I don’t want to make them conscious of their healthy practice! Hope no one connected is reading!
1) No mobile no and email!
https://www.policylitmus.com/weba/base.html?pg=weba/bpfmlife
https://buy.insuranzone.com/insurance/life-insurance.html (Thanks to Narayan Khatri for this link)
https://www.zibika.com/life-insurance (Will try and find out your location. Thanks to Sadashiv Kashyap for this link.)
2) Fake mobile no and email
http://www.policytiger.com/lifeinsurance.jsp
http://trucompare.in/TermInsurance.php ( I like this interface. Different checkboxes for terms and contacting!)
http://www.caringpapa.com/life-insurance/term-insurance.html
http://www.insuringindia.com/life-insurance/TermLife/online-term-insurance-home.aspx#
I think that is a big enough list. I am going to stop here.
Do share if there are other portals. Please do not provide links. Just mention names.
🔥Enjoy massive discounts on our courses, robo-advisory tool and exclusive investor circle! 🔥& join our community of 5000+ users!
Use our Robo-advisory Tool for a start-to-finish financial plan! ⇐ More than 1,000 investors and advisors use this!
New Tool! => Track your mutual funds and stock investments with this Google Sheet!
We also publish monthly equity mutual funds, debt and hybrid mutual funds, index funds and ETF screeners and momentum, low-volatility stock screeners.
- Do you have a comment about the above article? Reach out to us on Twitter: @freefincal or @pattufreefincal
- Have a question? Subscribe to our newsletter using the form below.
- Hit 'reply' to any email from us! We do not offer personalized investment advice. We can write a detailed article without mentioning your name if you have a generic question.
Join over 32,000 readers and get free money management solutions delivered to your inbox! Subscribe to get posts via email!
About The Author
Dr M. Pattabiraman(PhD) is the founder, managing editor and primary author of freefincal. He is an associate professor at the Indian Institute of Technology, Madras. He has over ten years of experience publishing news analysis, research and financial product development. Connect with him via Twitter(X), Linkedin, or YouTube. Pattabiraman has co-authored three print books: (1) You can be rich too with goal-based investing (CNBC TV18) for DIY investors. (2) Gamechanger for young earners. (3) Chinchu Gets a Superpower! for kids. He has also written seven other free e-books on various money management topics. He is a patron and co-founder of “Fee-only India,” an organisation promoting unbiased, commission-free investment advice.Our flagship course! Learn to manage your portfolio like a pro to achieve your goals regardless of market conditions! ⇐ More than 3,000 investors and advisors are part of our exclusive community! Get clarity on how to plan for your goals and achieve the necessary corpus no matter the market condition is!! Watch the first lecture for free! One-time payment! No recurring fees! Life-long access to videos! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Our new course! Increase your income by getting people to pay for your skills! ⇐ More than 700 salaried employees, entrepreneurs and financial advisors are part of our exclusive community! Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show you how to achieve this by showcasing your skills and building a community that trusts and pays you! (watch 1st lecture for free). One-time payment! No recurring fees! Life-long access to videos!
Our new book for kids: “Chinchu Gets a Superpower!” is now available!
Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook is for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Do you want to check if the market is overvalued or undervalued? Use our market valuation tool (it will work with any index!), or get the Tactical Buy/Sell timing tool!
We publish monthly mutual fund screeners and momentum, low-volatility stock screeners.
About freefincal & its content policy. Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on mutual funds, stocks, investing, retirement and personal finance developments. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than three million readers a year (5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified with credible and knowledgeable sources before publication. Freefincal does not publish paid articles, promotions, PR, satire or opinions without data. All opinions will be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our YouTube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing
Published by CNBC TV18, this book is meant to help you ask the right questions and seek the correct answers, and since it comes with nine online calculators, you can also create custom solutions for your lifestyle! Get it now.Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want
This book is meant for young earners to get their basics right from day one! It will also help you travel to exotic places at a low cost! Get it or gift it to a young earner.Your Ultimate Guide to Travel
This is an in-depth dive into vacation planning, finding cheap flights, budget accommodation, what to do when travelling, and how travelling slowly is better financially and psychologically, with links to the web pages and hand-holding at every step. Get the pdf for Rs 300 (instant download)