Non-intrusive term insurance comparison portals

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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!

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:

insurance-comparison-portals

 

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.

insurance-comparison-portals-2

 

Do share if there are other portals. Please do not provide links. Just mention names.

Do share if you found this useful

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About the Author M Pattabiraman author of freefincal.comM. Pattabiraman is the co-author of two books: You can be rich too with goal based investing and Gamechanger. “Pattu” as he is popularly known, publishes unbiased, promotion-free research, analysis and holistic money management advice. Freefincal serves more than one million readers a year with numbers based analysis on topical issues and has more than a 100 free calculators on different aspects of insurance and investment analysis, including a robo advisory template for use by beginners. Contact information: freefincal {at} Gmail {dot} com He conducts free money management sessions for corporates (see details below). Previous engagements include World Bank, RBI, BHEL, Asian Paints.

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18 Comments

  1. Killer line in today’s post: “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.” 🙂 Awesome!

  2. Killer line in today’s post: “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.” 🙂 Awesome!

  3. “Buying a term insurance policy is a risk and leap of faith” – Exactly!

    One of my colleagues has been asking others for their choice, why, their circumstances etc, but he has not taken one on his own!

    Since Life Insurance *is a big deal* for most of us, we look for guarantees when there are none.

  4. “Buying a term insurance policy is a risk and leap of faith” – Exactly!

    One of my colleagues has been asking others for their choice, why, their circumstances etc, but he has not taken one on his own!

    Since Life Insurance *is a big deal* for most of us, we look for guarantees when there are none.

  5. Pattu, If I convert the post as a PDF format, the output came without feedback comments. Is it possible to generate PDF with comments (as on date available)?

  6. Pattu, If I convert the post as a PDF format, the output came without feedback comments. Is it possible to generate PDF with comments (as on date available)?

    1. Open In Opera Browser and install Extension Names THEPRINTLIMATOR.After instal of extension open the desired web page and when web page loaded fully,on top of right side The Icon Of Extension Appers just click on it downlad the web page in desired font size and whatever you do not need just delete it.

      Very simple.

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