Avail discount on higher sum assured on Term Insurance

Avail discount on higher sum assured

If funds permit, getting yourself insured for a higher sum assured has twin benefits – you get a higher coverage and discounts on the premium payable. Most insurance companies offer discounts on higher sum assured.

Buy low cost polices

A term life insurance plan is one of the cheapest and simplest plan which offers life cover at minimum premium. You can also reduce the cost of insurance by selectively choosing riders that you need and avoiding the ones that do not suit your requirements. 

Buy bundled insurance

Based on your requirements, you can secure better deals by bundling insurance policies. This is because selling two or more insurance policies to the same customer reduces the marketing costs for the insurer. For example, by opting for a family floater in a health insurance plan, you can get coverage for your family members at a cheaper rate compared to buying individual health insurance policies for each family member. 

By employing any or a combination of the above-mentioned techniques, you can make insurance more affordable and rewarding!