Life Insurance Policies in India are a definitive approach to saving for the near future

Term life insurance can be termed as real life insurance as its main purpose is to insure the holders against loss of life. In such a life insurance plan, premiums are decided solely based on the insurer's age, life expectancy and health issues. This type of life insurance is best suited for people whose insurance coverage needs are temporary, that is, they are certain that their surviving family members do not require an additional protection of life insurance or have enough liquid assets.

A quote is the last price at which the insurer and the holder agrees upon. A life insurance premium is the money charged by the life insurance company for the policy coverage. This may be at times slightly different from the amount quoted. This happens mainly due to the process in which the premium is calculated. The level of life insurance premium depends on the life expectancy, age and health of the policyholder. This is examined mainly based on various statistical data of the policyholder and underlying medical tests.

If you are thinking of buying a new life insurance plan, follow these 3 basic steps for a hassle-free life insurance buying process:

1. Get quick quotes: Life insurance quotes takes into account various factors like age, gender, smoking habits, family health history, lifestyle etc. Age is undoubtedly the most basic factor for calculating the premium. A younger person has to pay premium at a lower rate since he will be paying for a longer period than a person who is much older to him. Gender is the next factor that comes into play in the life insurance quote calculation. It has been found in research that on an average women live 5 years more than men. So, women do enjoy a greater benefit. Similarly, factors like whether the policyholder is a smoker or non-smoker or his lifestyle also plays a crucial role in the life insurance quote. When you are about to buy a new life insurance, put some time and effort and research a bit on the life insurance quotes of various insurance companies and decide accordingly. The company websites provide features to get quick life insurance quotes thus making your job much easier.

1. Decide and interview with the company: After going through the life insurance quotes from various companies, shortlist the options best suited for you. Next, go for a phone interview or face-to-face conversation with the company's agent and clear up all your queries. Ask all your doubts regarding life insurance plan and get details about their different policies and the company's processing fees. Then decide the option that you think will be the most profitable for you in the long run.

1. Complete the formalities: Once you have decided on which life insurance plan you want to go for, most of your job is done because taking the right decision is the toughest part. Next, you have to go through the company's formal procedures and underlying medical tests. Complete these steps accordingly. You will most definitely be guided by the company's agent through these steps.

So, that's it. Get quick life insurance quotes, decide the best option for you and go for it. Good luck on your life insurance shopping!