Compare Insurance Quotes

Need to make a decision on which insurance you would like to purchase?

Have two quotes and you need to work out which one is better option?

Many not-for-profit organisations compare quotes by looking at the bottom line price and picking the cheap one, which does not always work when comparing 'apples and pears'. To assist you in making an informed decision between insurance quotes we have developed a series of points to check:

Compare the number of days you have been quoted for: Often insurance run their policies to one point in the year - for example an insurer may commence all policies on 1st April. If you apply for a quote on 1st May you will be quoted for 11 months, whereas if you apply on 1st March you will be quoted for 13 months. Divide the total premium by the number of days quoted, then multiply by 365 to compare annual premiums.

Check how much you have been quoted for :-  Compare the liability limits or sums insured between policies and decide which option is more appropriate.

Compare the excess on each policy:- Some policies have large excesses which bring premium down but can leave the organisation exposed in the event of more than one claim. Check the excess on each quote and calculate which one would be more appropriate for your organisation.

Check the type of cover you are being quoted for:- Different insurance provides quote different policies and provide different cover definitions. It is important to be aware of the policy definitions to ensure you obtain appropriate cover.

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Life Insurance : The Different types of Policies

Life Insurance Overview

A life insurance policy provides a cash payment when a person dies. This payment is known as the death benefit. Many people buy life insurance to protect the people who are dependent on them. Others buy life insurance as a way to leave a cash gift to their spouse, children, grandchildren and charities at their death. If you have made the decision to buy a policy, you may wonder which type of policy to choose since there are several different types of policies.

The Policy is written on the life of a person, known as the insured. The owner makes payments, known as Premiums, to the insurance company for the policy. In return, the insurance company agrees to pay the death benefit to the beneficiary if the insured dies within the Stated term.

Term

Term insurance is the most basic type of life insurance. The policy is written for the term of the policy, usually from the one to 30 years. If the insured dies within the stated term, the insurance company pays the death benefit to the beneficiary. When the term ends, the insurance ends. The premiums for term insurance are usually the lowest among the different types of life insurance, but will increase with the age of the insured. There is no cash value in a term life policy. This means there is no money for loans or to pay for the insurance if you can not pay the premiums.

Many employers offer a type of term insurance known as "group" term to their workers. Group policies cost less, and many companies pay the premiums. Generally, the policy is only good for as long as the worker stays with the company. Term insurance is suggested for those who only need the death benefit for a certain period of time.

Whole-Life

A whole-life policy pays a death benefit no matter when the insured dies. In most cases, the policy will guarantee the death benefit. The premiums are usually much higher than a term policy and the full premium  must  be paid each year. Whole-life policies have cash value. The difference between the premium and the actual cost of the insurance is put into a special account, known as the cash-value account. This cash-value account may be used to help the insured pay the "fixed" premium payments in later years. The policy owner may borrow against the cash value or receive the cash value if the policy is canceled. There may be charges associated with borrowing against the cash value or canceling the policy before the death of the insured. The insurance company may charge interest if the policy is canceled. At death, the beneficiary only receives the death benefit, not the death benefit and the cash value.

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List of insurance companies in India

This list of Indian insurance companies is based on the list of insurance companies registered and approved with the Insurance Regulatory and Development Authority.

General insurance companies

Public Sector

• Oriental Insurance comp. Ltd.
• United India Insurance Comp. Ltd.
• New India Assurance comp. Ltd.
• National Insurance comp. ltd.
• The Motor Assurance India comp. Ltd.

Private Sector

• Bajaj Allianz General Insurance
• Bharti AXA General Insurance
• Future Generali India Insurance
• HDFC ERGO General Insurance
• ICICI Lombard
• IFFCO Tokio
• Liberty Videocon General Insurance Co Ltd
• L&T General Insurance
• Magma HDI General Insurance Co Ltd
• Raheja QBE General Insurance
• Reliance General Insurance
• Royal Sundaram
• Shriram General Insurance
• Tata AIG General
• Universal Sompo General Insurance
• Cholamandalam MS General Insurance Company Limited
• Apollo Munich Health Insurance

Standalone health insurance companies

Private Sector

• Apollo Munich Health Insurance
• Max Bupa Health Insurance
• Religare Health Insurance Company Ltd
• Star Health and Allied Insurance company Ltd
• Cigna

Life insurance companies

Public Sector

• Life Insurance Corporation of India

Private Sector

• AEGON Religare Life Insurance
• Edelweiss Tokio Life Insurance Co. Ltd
• Aviva India
• Shriram Life Insurance
• Bajaj Allianz Life Insurance
• Bharti AXA Life Insurance Co Ltd
• Birla Sun Life Insurance
• Canara HSBC Oriental Bank of Commerce Life Insurance
• Star Union Dai-ichi Life Insurance
• DHFL Pramerica Life Insurance
• Future Generali Life Insurance Co Ltd
• HDFC Standard Life Insurance Company Limited
• ICICI Prudential Life Insurance Company Limited
• IDBI Federal Life Insurance
• IndiaFirst Life Insurance Company
• ING Life Insurance
• Kotak Life Insurance
• Max Life Insurance
• PNB MetLife India Life Insurance
• Reliance Life Insurance Company Limited
• Sahara Life Insurance
• SBILife Insurance Ltd.
• TATA AIA Life Insurance

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Tips When Buying A Home

It can be very exciting when you are about to make your move in purchasing your very own home. There are of course some factors that would have to be considered before you make your move. This is a huge investment and like all other investments, you need to check and review the details of the home you have your eye on. The very first thing is to assure that you are offered the market price. This means that you would have to do your own research in order to find whether you are getting a fair price on your home. Check the going rates of the other homes in that area that is comparable to the ones you are trying to get. There are third party websites that would help you do this easier.

This time you need to make sure that you are aware of how much you can actually afford. Rarely do we find homeowners who would acquire their home in cash or immediately make full payment. You can start off my determining your own disposable income. This may be tedious if you think about it but it will definitely help you decide on how high you can go if you do make an offer for the house. It would also help if you can include into the computation the other costs that will come with the purchase of the house. This would usually include the insurance, tax and others. This should give you the final numbers on what you can expect to spend on a monthly basis. This will then be easier to set against your monthly income. It would also be best if you can take advantage of mortgage insurance. I understand that it costs more but it will save you from losing your home in case you lose your source of income along the way. Do not forget that this is going to be a longer term commitment and you may not know what could happen along the way.

The common tip is to allocate around 27% to 29% of your monthly income into the home cost. If you go beyond this then you are risking you are very own cash flow in a monthly basis. It is not like you can just suck it up because as mentioned, this can go for a couple of years and you might risk losing more than the home if you are not careful. If you are not really well versed with the entirety of realty and its dynamics, feel free to talk to a real-estate agent. They do this for a living so they pretty much know whatever there is to know about the decision you are going to make. We all know that this can be a great investment but you have to look into the other possible costs that you may incur. Provided that you are able to set aside enough money for the house maintenance but in the long run you may encounter some costs you have not come prepared for like repairs and what not. You have to make sure that you evaluate your decision thoroughly.

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Advantages In Protecting Your Home Through Insurance

You won’t really know what could happen in the near future. You should at least have an idea of how to go about protecting your precious investment… your home. The only way to go about this is your homeowners insurance. If you just got your home through mortgage or a loan, you may be required to take advantage of the loan right off the bat. This is usually the case for most people that they only think of insurance when they are driven to the wall. This should not be the case because this is a form of protection that we all get in case something undesirable happens. Trying to get a house repair underway no matter how small it is will definitely be expensive.

Getting homeowners insurance quotes for your home depending on your coverage should save you hundreds or even thousands of dollars if you get the right coverage for your home. You would of course need to make an effort to study the things that could possibly affect your home so you do not really go over the line by going for the most comprehensive policy (unless you can afford it of course). For the most basic type of HOI, it will already cover the more basic perils that you home may encounter. It would be important to make sure that you do some research on your end on what you are going to need. We may not know what is going to happen but at least we can work out the things that are more likely to happen. For instance, we may not really require coverage against winter damage when we live in Florida.

If you require something a bit more comprehensive then you can check out those that go higher beyond HOI1. It will all boil down to the company you have your eye on and the budget you are willing to spend on a monthly basis. This is why it is important to evaluate your disposable income so you can come up with the more appropriate coverage for your insurance needs for your home. This is not really rocket science. All you have to do is know what you want or need. You can then set this against your budget and you have your homeowners insurance.

The usual step is to make sure that you start your search with the bigger names in insurance. This way you would be able to secure the name as part of your investment. It is a common story for a company to go under and leave their policy holders high and dry. I am sure you would not want to be a part of a bad statistic that is why it is imperative that you actually find one that has experience to work to your advantage. On the other hand, it would also help if you can also look into smaller private companies that would be able to provide you with the coverage which are more flexible. All you have to do then is decide which one is more important for you.

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