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Life Insurance Quotes

Life insurance is important to your financial planning to lead a comfortable and secure life. Getting life insurance when you are in your earning years is essential. However, to select the right life insurance quote, you can compare various plans online based on coverage, premium, and benefits.

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Written ByPalak Bagadia
AboutPalak Bagadia
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Palak Bagadia, Associate – Digital Marketing at Bajaj Allianz Life, with experience spanning content and performance marketing, recruitment, employee engagement in the BFSI industry.
Reviewed ByRituraj Singh
AboutRituraj Singh
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Rituraj Singh,With over 6.5 years of experience in the insurance industry, Rituraj Singh, Manager- Product & Brand Marketing at Bajaj Allianz Life Insurance overlooks new product launches, compliance, and brand projects, leveraging artificial intelligence and technology to enhance outcomes.
Written on: 08th July 2025
Modified on: 10th July 2025
Reading Time: 15 Mins
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What are life insurance quotes?


A life insurance quote is an estimate of the premium you’ll pay for a life insurance policy. It’s calculated based on factors like your age, health, lifestyle, coverage amount etc. Quotes help you compare plans and find the best fit for your needs and budget.


How to compare online insurance quotes?


Comparing life insurance quotes online is a smart way to find a plan that suits your needs and budget. Here is how you can do it:


  1. Decide the sum assured – Know about the sum you want as the coverage amount your family would need in your absence, when you think about the future.
  2. Select the policy term – You are required to choose how long you want the insurance protection to last.
  3. Choose a premium payment term – You can pay once, for a few years, or throughout the policy duration.
  4. Compare benefits, not just costs – A cheaper plan may not always offer the best value. So weigh the pros and cons carefully before choosing.
  5. Consult an insurance advisor – If in doubt, ask why certain quotes are higher or lower than others.

Taking a little time to compare can help you choose a plan that offers good coverage at a fair price.


Life Insurance Quotes Comparison


Type of Plan


Coverage Period


Maturity Benefits


Key Features


Life Cover


Ideal For


Term Insurance Plan


Fixed term


No (except in Return of Premium plans)


Most affordable; offers payout on death during the policy term


Pure protection


Individuals seeking budget-friendly life cover


Endowment Policy


Fixed term


Yes


Combines savings + insurance; lump sum paid on survival


Savings + life cover


Life insurance coverage and long-term savings


ULIP (Unit Linked)


Flexible


Yes


Life insurance + Investment; market-linked returns; allows partial withdrawals post the lock in period


Split between investment & life cover


Long-term investors with a higher risk appetite


Money Back Policy


Fixed term


Yes (in intervals)


Offers periodic payouts + lump sum at maturity


Savings + periodic payouts


Individuals seeking liquidity during term


Whole Life Policy


Entire lifetime


Yes


Covers life assured for life; builds wealth gradually


Lifelong protection + savings


Those looking for lifelong insurance


Child Plan


Till the child reaches 18–25 years


Yes


Secures child’s future; premium waiver benefit on parent’s death


Life cover + premium waiver


Parents planning for their child's education & future


Retirement/Annuity Plan


Post-retirement


Yes (regular income or lump sum)


Provides a steady income after retirement


Focuses on the pension corpus


Individuals planning for retirement security



Where to get offline life insurance quotes?


Although the online medium is becoming very popular, some people still prefer to buy policies offline. If you wish to follow the offline route, you can approach a trusted insurance agent, or a life insurance consultant associated with different insurers and ask them to help you generate a quote as per your requirement. You have the advantage of discussing the quote with them and making the right choice for yourself.


Especially if you are a first time policyholder, an in-person conversation can help you understand better how to go about your application process. Note that one agent or life insurance consultant can work only for one life insurance provider.


Where to get online life insurance quotes?


There are scores of aggregator sites online where you can find quotes from multiple insurers and compare them easily. The process of obtaining quotes and comparing them is quick and easy. All you need to do is enter some basic details such as your name, age, annual income, smoking habits, etc., and you will get a list of plans that suit your needs. You can compare these quotes and decide what works best for you. You also have the choice to visit multiple sites and get quotes to have a better idea. For a quick look, you can also visit your selected insurer’s website and use the life insurance premium calculator to know the premium estimate.


What are the factors that decide the price of your life insurance plan?


Here are the key factors that determine the price of your life insurance cover, and will help you compare plans.


  • The sum assured


    As a rule of thumb, your life insurance cover can be up to 25 times of your annual income. This can give you a rough estimate. For a comprehensive idea, you need to also consider the number of family members, your life goals, current income, the amount of time for which your family will need financial support and the minimum financial protection required for them.


  • Tenure


    The tenure of your plan should depend upon two things - how long would your family need support in your absence, and how long can you continue to pay premiums. It is advised to stay insured for all your earning years to ensure maximum financial security. A life insurance premium calculator can help you determine your tenure better.


  • Age and gender


    Age is a very important factor. It is always advised to buy life insurance early on as premiums increase with age. You can receive the same coverage at a lower cost than someone who buys it at a later age. Some insurers also offer discounts to women. Use the life insurance premium calculator from the insurer of your choice to determine the rates for your age.


  • Medical history


    Having a health condition can increase your premium rates. If you smoke or drink regularly, your chances of a cheaper premium are also less as these habits come with severe health risks.


  • Occupation


    If you have a regular 9-to-5 desk job, it will not affect your premium a lot. However, if you are involved in a profession that involves health risks and hazards, or if you are, say, an adventure sports enthusiast, your premium amount might go up.



Conclusion


Once you take note of all contributing factors and evaluate quotes, you can make a truly informed decision about which life insurance policy you should buy. It is a detailed and crucial process, so make sure you take your time with it and select only what is best for you and your family.


FAQs


Why choose term insurance plans?


Term insurance plans can be helpful when you are searching for affordable financial tools for life insurance in the future. These plans can help you cover your family’s financial security in the future. In case of the life assured’s untimely demise during the policy term, the nominee receives a death benefit , subject to policy terms and conditions. With this, you can cover costs like education, daily costs, etc.


Which life insurance plan is most suitable?


The best life insurance plan totally depends on which stage of life you are in currently, your financial goals, and your risk tolerance levels. For example, if you want savings and insurance, then you can go for an endowment or money-back plans. If you want a pure life cover, go for term insurance. ULIPs are also decent if you are comfortable with the risk and looking for market-linked returns.


What do you need to get a life insurance quote?


Getting a life insurance quote is very easy. You simply need to provide certain basic personal and financial details like age, gender, smoking habits, annual income, occupation, and information about your desired coverage amount. You are also required to decide the policy term and premium payment term. Taking all these factors into account, the insurer gives you a quote.


Life Insurance Guide

Long term investment plans - What Are Their Benefits?

A suitable financial plan may be defined by its components. Amongst other things, one aspect, it may be incomplete without, is a steady amount of investment.

Read More
Long term investment plans - What Are Their Benefits?

A suitable financial plan may be defined by its components. Amongst other things, one aspect, it may be incomplete without, is a steady amount of investment.

Read More
Long term investment plans - What Are Their Benefits?

A suitable financial plan may be defined by its components. Amongst other things, one aspect, it may be incomplete without, is a steady amount of investment.

Read More
Long term investment plans - What Are Their Benefits?

A suitable financial plan may be defined by its components. Amongst other things, one aspect, it may be incomplete without, is a steady amount of investment.

Read More
Disclaimers:
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IN THIS POLICY, THE INVESTMENT RISK IN INVESTMENT PORTFOLIO IS BORNE BY THE POLICYHOLDER

The Unit Linked Insurance Products do not offer any liquidity during the first five years of the contract. The policyholder will not be able to surrender or withdraw the monies invested in Unit Linked Insurance Products completely or partially till the end of the fifth year.

ULIPs are different from the traditional insurance products and are subject to the risk factors. The premium paid in ULIPs are subject to investment risks associated with capital markets and the NAVs of the units may go up or down based on the performance of fund and factors influencing the capital market and the insured is responsible for his/her decisions. Please know the associated risks and the applicable charges, from your Insurance agent or the Intermediary or policy document issued by the insurance company. The various funds offered under this contract are the names of the funds and do not in any way indicate the quality of these plans, their future prospects and returns.

 

 The views stated in this article are not to be construed as investment advice and readers are suggested to seek independent financial advice before making any investment decisions. For more details on risk factors, terms and conditions please read the sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale. Bajaj Allianz Life Insurance Company Ltd., Regd. office Address: Bajaj Allianz House, Airport Road, Yerawada, Pune - 411006, Reg. No.: 116, CIN: U66010PN2001PLC015959, Call us on toll free No.: 1800 209 7272, Mail us: customercare@bajajallianz.co.in

BJAZ-WEB-EC-15946/25

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Disclaimer

*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any call made, SMS or WhatsApp sent in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

 

Please refer to BALIC Privacy Policy

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Disclaimer

%%Above illustration is for Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V03) considering Male aged 25 years | Non-Smoker | Policy Term (PT)– 30 years | Premium Payment Term (PPT) – 30 years | Sum Assured opted is Rs. 1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 6,238. 2nd Year onwards premium is Rs. 6,659. Total Premium Paid is Rs. 1,99,349 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly installments (Lumpsum Payout Percentage : 45, Income Payout Percentage : 55) | Premium shown above is exclusive of Goods & Service Tax/any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only. This is inclusive of all the discounts mentioned above.

##Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

@Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^The Return of Premium amount is total of all the premiums received, exclusive of extra premium, rider premium and GST & /any other applicable tax levied, subject to changes in tax laws
Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

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Disclaimer

Bajaj Allianz Life eTouch- A Non Linked, Non-Participating, Individual Life Insurance Term Plan (UIN: 116N172V04)

*Tax benefits as per prevailing Section 10(10D) and Section 80C of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

~Individual Death Claim Settlement Ratio for FY 2023-2024

1Premium Holiday has to be selected at inception to avail this benefit and also depends on other policy terms & conditions


Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116


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Disclaimer

*Above illustration is for Bajaj Allianz Life eTouch II - A Non-Linked, Non-Participating, Individual Life Insurance Term Plan (UIN:116N198V01) considering Male aged 25years | Non-Smoker | Policy Term(PT)– 30 years | Premium Payment Term (PPT)– 30 years | Sum Assured opted is Rs.1,00,00,000 | Online Channel | Standard Life | 1st Year Premium is Rs. 5,092. 2nd Year onwards premium Rs. 5,520. Total Premium Rs. 1,65,172 | Medical Rates | Yearly Premium Payment Mode | Death benefit opted is lumpsum payout and monthly instalments (Lumpsum Payout Percentage: 40, Income Payout Percentage: 60). Income payout instalment opted for 40 years | Premium shown above is inclusive of Online Discount only, no other discounts have been considered and exclusive of Goods & Service Tax/ any other applicable tax levied, subject to changes in tax laws, and any extra premium and is for illustrative purpose only. For more details on risk factors, terms and conditions please read sales brochure & policy document (available on www.bajajallianzlife.com) carefully before concluding a sale.

##Tax benefits as per prevailing Section 10(10D) and Section 80C (under old tax regime) of the Income Tax Act shall apply. You are requested to consult your tax consultant and obtain independent advice for eligibility before claiming any benefit under the policy.Above Tax benefit is calculated considering deduction of Rs. 150,000 and applicable tax rate of 31.20%.

**5% Discount applicable for customer's first individual life insurance policy, applicable only on first year’s premium. 5% Discount for salaried customers, applicable only on first year’s premium. 6% Discount on online purchase is available for regular premium payment and limited premium payment frequency on first year's premium.

$Term Insurance plan bought online directly from Bajaj Allianz Life Insurance has no commissions involved.

^^The Return of Premium means total of all the premiums paid under the base product, excluding any extra premium and taxes, if collected explicitly.

Bajaj Allianz Life Insurance Co. Ltd. | IRDAI Reg. No. 116

X
Terms & Conditions

I hereby authorize Bajaj Allianz Life Insurance Co. Ltd. to call me on the contact number made available by me on the website with a specific request to call back. I further declare that, irrespective of my contact number being registered on National Customer Preference Register (NCPR) or on National Do Not Call Registry (NDNC), any Call made, including via Voice over Internet Protocol & WhatsApp, SMS or WhatsApp messages, in response to my request shall not be construed as an Unsolicited Commercial Communication even though the content of the call may be for the purposes of explaining various insurance products and services or solicitation and procurement of insurance business

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