-I would like to take Life Insurance preferably from LIC. I heard that buying insurance online is much cheaper compared to buying through agents, as it will not have the agent's commission. Kindly provide me details or give me the links...Almost all life policies have a built in commission payable to an agent. Whether you buy it online or directly from an agent you will be paying a commision. Normally the first year commission (built into the premium) can be 50% to 100% of the premium. Then the broker usually will only get 1% to 2% after that. Your premium is the same (depending on the type of policy you buy).
The advantage to going online is not to save paying a commission (as you will be paying a commision) but it is that you will have more insurance companies quotes available to you to chose from. I have listed a website below that is helpful and I am not in anyway connecting to this website.
Life Insurance is a contract between you and a life insurance company, which provides your beneficiary with a pre-determined amount.Online insurance require no agent funda and all.Insurance online is better because no online website is fake and wrong
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