- About Coverfox
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We all strive hard to give the best to our family members without any hassles. But what if you being the breadwinner of the family suffer an untimely death? Will you still be able to fulfill your family’s needs and aspirations in your absence? Though it may sound unrealistic, you can certainly make arrangements for your family’s well-being post your demise. Losing someone you love and care can be painful and bitter. But to make things less bitter, you can buy a term insurance plan that would offer your family a financial help in their tough times.
Don't know what's a term insurance calculator? Never mind! Let's dig deep into the details and understand how to use a term insurance calculator and the benefit it offers.
A term insurance premium calculator is a tool that helps you find out the amount of your premium that you agree to pay for your chosen sum assured under a term insurance plan. You simply choose a term plan depending on the quotes and pay the premiums. But, do you know, how to use the term insurance premium calculator?
The term insurance calculator will ask you to enter your personal details like your name, gender, date of birth, mobile number, marital status, annual income, smoking and chewing tobacco habits, your preferred cover amount and the age/period till which your policy should cover you etc.
Once you enter these details the term insurance calculator will give you a plethora of term insurance plans offered by different insurers. Select the buy now button on the one you feel would give you the right coverage at the right price
The term insurance calculator will ask you to feed in the details of your address, nominee and finally take you to the payment gateway option
You can now make the term insurance payment online using your debit card, credit card or your net-banking facility
The way you do a proper R&D before buying anything online, it does make absolute sense to run through a same research before buying a term insurance online. Here are the benefits of using a term insurance calculator:
The term insurance calculator will help you know the exact premium for your chosen coverage amount to safeguard your family in case of your untimely death
Your term insurance online shopping becomes a simple and convenient process
You become a well-informed customer about the market know-hows
You get to see plans of different insurers under one roof
You get to compare features and rates of different term insurance plans for the best deals ever!
Online term insurance is cheaper and simple to understand
With a plethora of term life insurance companies in the market offering another plethora of different term life insurance plans, it becomes a daunting task to narrow down your search! After all, each term insurance policy assures better products than the other. Therefore, it becomes imperative to compare term insurance considering the premium and the coverage it offers. All you need to do is a bit of research and comparison. Online term insurance comparison would guarantee you the best term insurance plan at an affordable premium!
Let’s have a look at the factors you should watch out for before comparing term insurance plans:
Everyone wants to be covered sufficiently. Compare the premiums for the size of the life cover offered by the insurance company. This should be ideally large enough to cover all your debts as well as aid your loved ones to lead a comfortable lifestyle post your demise. Nevertheless, the premium too should be pocket-friendly for the cover you opt for!
Always dig deep into the features and benefits offered by the insurance companies while you compare term insurance online. Watch out if the policy you wish to opt for offers flexibility to choose the tenure of your choice, the sum assured amount, inbuilt features like terminal/critical illnesses, accidental death benefit and the premium payment modes.
Riders are add-ons that enhance your basic term plan insurance. You can buy term insurance riders at an additional cost. Before buying a term insurance plan online, ensure to compare the riders offered by different insurers. Some of the important riders you may wish to add to your policy are critical illness rider, accidental death benefit cover etc. However, it is recommended to buy one only as per your requirement.
Claim settlement ratio of the company replicates the proportion of the total claims settled against the total claims raised. Higher the claim settlement ratio, higher are the chances of your claim getting fulfilled by your term insurance company. It is very important to keep a keen watch on the claim settlement ratio to ensure that your claim gets settled when the need arises. Therefore, keep this important factor in mind while comparing term insurance plans.
Before buying term insurance policy, ensure that the insurance company you wish to opt for is reliable and stable enough to develop trust among their customers. Basis the company’s reputation and the financial goodwill, you will get a clear picture of its business and the bankruptcy status. Therefore, before you buy term plan insurance online, do not forget to compare the term plan basis the insurance company’s stability.
Right from clothes to shoes to house-hold items we love to shop online. We like this way of shopping because we get so many choices to pick and choose from. Then why shouldn’t this be applicable to buy term insurance online too? We love exploring all the possible options. Coverfox.com offers you a plethora of term insurance plans under one roof with benefits like unbiased advice and after sales-services! Let’s have a look at the reasons to buy term insurance online:
Pocket-friendly: Experts say online term insurance plans are almost 40% cheaper than the offline plans. Now, who doesn’t want to save their hard-earned money? You skip all the intermediary charges like paper-cost, agent’s commission, processing fees etc. The insurance company therefore passes on their benefits to their customers.
User-friendly: Don’t worry if you are a newbie to the internet. Coverfox.com has a user-friendly gateway to take you through the process of buying term insurance conveniently. Comparing term insurance with different insurers would help you make a right choice.
Expert-knowledge: Any broker is licensed with the Insurance Governing Authority (IRDAI). They offer you the finest approach for all your needs related to insurance. Essential and top-notch services make them more reliable.
Back-up of your policy documents: In case you buy a term insurance plan with Coverfox.com, you can login and view your purchased term insurance policy on your online account. Besides, you also receive a soft-copy on your email address that gets saved too!
Reminders for renewal: Coverfox.com sends you timely renewal reminders to help you avoid from lapsing your policy.
|PLAN||ENTRY AGE (MIN/MAX)||CLAIM SETTLEMENT RATIO (2015-16)|
|Bajaj Allianz iSecure Online Term Insurance Plan||18/60 years||91.30%|
|Aegon Life iTerm Insurance Plan||18/65 years||95.31%|
|ICICI Pru iProtect Smart Term Insurance Plan||18/65years||96.20%|
|Canara HSBC eSmart Term Insurance Plan||18/70 years||92.99%|
|Kotak Preferred Term Insurance Plan||18/65 years||89.09%|
|LIC eTerm Plan||18/65 years||98.33%|
|PNB MetLife Mera Term Insurance Plan||18/65 years||85.36%|
|Max Life Super Term Insurance Plan||18/60 years||96.95%|
|SBI Life eShield Term Insurance Plan||18/65 years||93.39%|
In case of any uncertainties or unforeseen circumstances, the dependents as allocated by the policyholder during the policy commencement are required to file a claim. This process is simple as compared to other insurances.
Below is the claim process explained in brief:
Registering the claim with the insurer: The dependents of the policyholder need to intimate the insurance company about the claim. They can either visit the insurance company or contact as declared in the insurance policy document.
Submission of policy documents: Documents such as death certificate, original term insurance policy, proof of claim, history of medical documents etc. as per the insurance company's requirement. The insurance company may ask for additional documents too, if need be.
Final decision: On successful submission of the documents and verification by the insurance company, the claim will either be selected or rejected.
What is the right age to buy a Term plan?
What are the things you need to know when you are investing in a Term Insurance plan?
In an unfortunate event of your death, how can your nominee claim your Term plan?
There's no better way to put this, but the real answer is 'no'. With regulated pricing and premiums set by the IRDA, the prices you see here are the ones you see everywhere (lower prices elsewhere usually mean there's a possibility of hidden charges). The only difference? At Coverfox, we don't look for the cheapest price, we look for the right one.
Online payments can be a major hassle, but not with Coverfox. This is why you don’t need a Credit Card; you can make payments through just Net Banking or your ATM/Debit Card. Unfortunately, we can’t support cash on delivery or cheques, just because we want to keep it online and simple. We do allow for card-on-delivery payment though. But this only works in the case of customers with expired car insurance, where an inspection is required.
You'd get your policy before you finish reading this answer. It's THAT fast. Once you choose your product and make your payment, it’s sent to your inboxes right away. No hard copies, because we are also secret environmentalists. If by any chance there is a delay due to a medical check or an expired vehicle inspection, we promise that you’ll be informed in advance.
With our excellent Customer Service, we make sure that you never have to deal with the insurer personally. We make it that convenient. Our relationship with insurance companies ensures our dedication to every customer! In fact, we offer free claim assistance during emergencies to even those who may not have bought insurance policy from us. After all, Coverfox is simply a phone call away for anyone in need.
Here, we don’t take any sides (apart from yours) when it comes to insurers – in fact, we don’t even ask you for your contact details for comparing various products until you are convinced. You can say that we are always looking out for you – like the friend you call at 4 am - whether it’s finding you the perfect policy or making sure you get only the best deals, we are on your side. As an IRDA approved organization, we are as genuine as they can get.