E-Commerce India - Insurance comparison and buying made easy

Such are vagaries of life that everyone ought to insure against all odds. Life Insurance certainly reminds of LIC for previous generation. With rise in the middle-class, flourishing economy and increased awareness, the future financial needs of people have inevitably changed. People would want to secure kids education, marriage and also one's own retirement. This has led to variation in insurance products, which can cater to different needs of people at various stages of life. Obviously, with demand the supply has also grown and there are number of private enterprises too that offer life insurance policies, apart from LIC now.

If one is interested to buy an insurance policy, from which company should they buy? With clauses becoming more or less the same, how do I easily compare prices? Once I make my choice, how would I make my payment and get the policy? These are some of the questions addressed by http://policybazaar.com, a Naukri initiative. The site offers comparison of life and general insurance (health, vehicle, travel, property) from different vendors in India. One can make online payment to purchase appropriate policy. Needless to say, one should get professional advice on financial matters like these before making a decision.

Are we not going to hear much about LIC agents anymore? With services like insurance comparison offered online, would the agents vanish after a while? I think these online services are being used by only a fraction of people in India, right now.  The awareness about the plans need to grow and internet penetration should increase drastically for these policies to be purchased online in volumes. Even offline, the insurance penetration is quite low in India. Long way to go, but good that we got started !