Tips to SAVE Life Insurance Premium -

1. Don't buy insurance if you don't need it, and don't buy more insurance than you actually need to provide for your loved ones.

2. Always select premium payment option as annual. This option is cheaper than monthly or quaterly premium payment option.

3. Shop around and compare prices and coverage. Compare the premium by online comparing sites like -,, etc..And buy the cheapestoption (Please take care that all the coverage is there, so discuss with your insurance adviser first, before buying online). Get at least three quotes on comparable policies, and ask questions about the policy's renewal and surrender provisions. Don't just compare the prices of travel insurance products, compare also the benefits of the cover, the exclusions on the cover and other product features.

4. Use Insurance Reminder services offered by some websites like ICICIlombard, HDFCErgo etc. It will help you in filing your premium in time or regularly and also saves the cost of late fee or reinstatement cost.

5. Buy additional riders, which are optional forms of coverage, only if you need them.

6. If you are non smoker, You can save more, some companies like Kotak Life have seprate premium plan for non-smoker, which is cheaper than normal plan.

7. Participate in your employer's sponsored life insurance program, even if you have to contribute or pay for it. This form of life insurance coverage, known as group insurance, offer benefit that can be less expensive than comparable plans offered outside of work.