As Every insurer knows the many insurance companies available in the market but the things are, from which company insurance need to buy? from where to buy cheap insurance? Yes, everyone knows that every insurance policy has more & less commission part of agents so a question arises from where to buy which cost us the minimum.
Charges are aligned with Insurance:
Premium Allocation Charges
Fund Management Charges
After seeing these much charges once you might cancel your planning to buy Insurance, you might think after deducting these many charges what insurance company returns me so we should try to minimize their charges & that return to more at the end but many charges are unavoidable which you can’t avoid. like administration charges, Mortality charges are the monthly charges.
Avoidable charges are: up-front commission charges range from 15% to 30% of the first premium depend upon the kind of Policy. Regular premium commission charges are higher than the single premium charges. In Insurance plan, one larger part is the agent commission which may go to sourcing mode banker, online company, individual, commission agents.
So where is the Cheap Insurance Plan?
Some of the websites are provided insurance along with Insurance plan comparison before buying insurance offline always compare the plan whichever insurance you planning to buy because of many a time agents to do false commitment which online insurance plan does not exist.
Policybazaar.com is leading website where you can compare the all insurance plan of all company on your own. This site provides you the very wide variety of insurance plan of almost all companies but sure take your own decision. if you asked to them they might suggest in which they are getting more commission. These sites costing are lower than the offline agent commission.
New India Assurance company provides all kind of general insurance which you find on any other insurance marketplace. The best part of this site is that It is an insurance company which directly provide insurance means there is no intermediate in between like other insurance marketplaces. you get around 20% cheap rate insurance plan directly from the government undertake insurance company.
This insurance company also offer the same services like New India Insurance. United India Insurance (UIIC) also offer online new policy & premium collection services as it is also a general insurance company so UIIC also offers discounted rate of insurance online which might not be available at offline. UIIC offer 10 % discount premium (Max 2000/-) per policy. This scheme available for the New & individual customers only.
BankBazaar.com is the marketplace for all banking services like the loan, card, investment, insurance. Bankbazaar.com also a one of a good option to buy Insurance online. Here you can find both life & general insurance. it also offers the compersion facility where you can compare all major companies policy rates before buying & site clearly show you that which cover & which things are not cover under this policy.
Coverfox provides bike, car, term life, health, travel insurance, they have good mastery in bike & car insurance so cover Fox also one of the good platform for the vehicle insurance at the cheaper rate with all companies even we can compare, renew the existing insurance plan.