How to Compare Insurance Plans

There are number of insurance policies available in the market and all often looks like similar, but if you think all insurance policies are very much same, you would be wrong. Finding the best insurance plan can be an easy task if you know how to compare insurance products. Price is the important factor for comparison but there are some other factors which are equally important. Before buying any insurance producy one should must aware about the claim process & conditions, total coverage limit, policy riders etc.

* Cost Comparison - The first thing that comes to mind before starting any policy comparison is insurance cost. The amount to be charged for a certain period of insurance coverage is called the premium. First you should have to compare the insurance premium of the different policies with their offerings. Premium may vary as per the policy offerings.

* Face Amount or Total Coverage Limit - The face value of an insurance policy is the benefit to the policy holder; however it is subject to other clauses in the policy. For example in case of Life Insurance Policy the face value is the death benefit. You got the face value of the policy if a total loss occurs. Total coverage limit is directly proportional to the insurance premium.

* Claim Conditions - Every insurance company has certain circumstances for claim assistance. Before buying policy one should must be aware about the claim conditions. For example in case of Death Claim which is a benefit payable to the beneficiary under the policy on the event of death, but Insurance Companies does not pay anything in case of suicide. Similarly a liability policy may not cover damage from acts of God.

* Policy Riders - A provision of an insurance policy that is purchased separately from the basic policy and that provides additional benefits at additional cost. Different insurance policies have different policy riders which may enhance coverage and provide additional benefits to the policy holders. Policy rider is an important aspect for the insurance comparison, so compare all the possible aspects.

As you know, it is very important to compare insurance policies to get the maximum benefits. Comparing insurance policies should be a simple process, as long as you know your requirements and which insurer's plan is matching with your condition.

www.bajajcapitalinsurance.com provides you a comprehensive online platform to compare and buy best products offered by leading insurance companies in India.
To know more about Insurance Premiums and get a free insurance quote call 1860-266-1226, we will happy to assist you.