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How to get affordable term life insurance quotes?

Affordable term life insurance quotes

75% of the overall insurance premium in India is accounted for by none other than the life insurance sector. In 2017-18 itself, the total premium stood at Rs 4.58 lakh crore with a CAGR of 10.3. Rapid urbanisation, greater demand for retirement products and lesser availability of social security mechanisms by the government are expected to lead the growth of the life insurance sector by 14 to 15% per annum in the next few years.

Life is unpredictable. If you are someone who is providing for dependants such as spouse and children and even your parents, you can only imagine how your absence would impact their lives. Which is why term insurance is necessary to safeguard your family’s future, should life deal a hard blow to you anytime. Most people hesitate to buy term insurance, thinking they might not get an affordable term insurance quote or because they want to compare plans and choose the one that is best for them.

A quote will depend on several factors- some that you can control by incorporating lifestyle changes and some that are not under your control, but still will be crucial to determine your premium amount. Let us take a look at some of them:

1. Gender:

On an average, the life expectancy of women is higher as compared to men and so they pose a lesser risk of claim. Hence, if you are a woman applying for term insurance, you might get a cheaper quote as compared to a man fulfilling similar conditions.

2. Age:

This is one of the most important factors since the risk of contracting diseases increase as you age. If you buy insurance early in life, you also pay more premiums and choose a longer policy term, thus bringing down the price of your premiums considerably. On the other hand, if you take the same term plan say 20 years later, you pay lesser premiums for a relatively shorter policy term and hence do not get the benefit of an affordable term insurance quote.

3. Policy term:

The example above, not only illustrates buying term insurance at a younger age, but also choosing a longer policy term. Long term policies turn out to be cheaper than short term ones, and offer protection for a longer time.

4. Smoking and drinking:

You can say goodbye to your chances of getting a cheaper quote if you either smoke or drink. These lifestyle choices increase your risk of contracting diseases and can also impact your premium rates.

5. Medical fitness:

Since you have to go through a medical check-up prior to acceptance of your proposal form, you might end up paying higher premium for an adverse health condition, so the more healthy life choices you make, the cheaper the term insurance quote you get.

6. Occupation:

If you are an adventure sports enthusiast, or work in any other industry with an increased risk to your life, you might end up paying more premium than someone in a 9 to 5 office job where the work environment is relatively safe.


Life insurance quotes are calculated on an individual basis, and hence are different for different individuals. As explained above, you cannot control certain factors such as age and occupation. However, you can make better lifestyle choices such as staying fit and being a teetotaller, as well choose a longer policy term to benefit from an affordable quote.

Not only this, an online term plan may reduce your premium outgo by quite a bit, as compared to buying the same plan offline. Future Generali Flexi Online Term plan allows you to instantly generate a reasonable term insurance quote online. Log on to the website and fill in your basic details such as name, age, gender, occupation, annual income and whether or not you smoke. Your quote is generated. Simple.

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