There was a time when Indian consumers didnt have much options to choose from- while buying Insurance products. The situation was particularly severe in case of Life Insurance as there was just one company- LIC.

With multiple Insurers now operating in both Life and Non-Life insurance sectors, the customers have a clear option to pick and choose not only the plan(s) but also the insurer.

One can obviously not compare (meaningfully) all plans from all companies- but you should remember to get alteast 3-4 quotes for your specific Insurance requirement.

Choose your company basis:
- Whether they have the specific insurance product you are looking at
- What is the reputation of the company in terms of claim settlement,servicing (reminders/alerts etc).
- What is the pricing of the product?
- What has been the historical performance of its products- this becomes critical in ULIPs and other investment related products

The process of comparison ensures that
- you have chosen the product/company
- Your selection is based on a structured mapping of requirements with features/benefits available

So next time you think of buying an insurance- make sure you Compare and Choose the Best Deal - only at BimaDeals.