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Buying Term Insurances from platforms like PolicyBazaar or the Insurer directly

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17 Mar, 2021 by  sanket pusalkar


I am 26 yo and planning to purchase a term insurance for myself. I have been spending most of the time on PolicyBazaar website and talking to their executives to know and compare different term insurance products.

My queries in this matter are as given below.

  1. Is it advantageous in any way to purchase term insurance from platforms such as Policy Bazaar (PB) or to directly buy from the Insurers themselves.

  2. PB and other platform advertise a lot about claim settlement assistance service provided to the family free of cost; Is this very much required? I understand that the insurers themselves have their claim assistance executives; how is the claim settlement experience with them as compared to platforms like PB?
  3. I am considering to buy Max Life Term plan (Max Life Online Term Plan Plus); Just for the sake of comparison, I looked up the same plan on Max Life's website; there I found that the premium was less as compared to PB and that the riders offered differed from PB; on PB I had the option to choose Accident disability rider but the same was not available on Max Life's own website.

Is this normal that the riders/features offered for the same product differ on 2 different platforms?

Any assistance with the above queries is very much appreciated.

Thanks and Regards.

Term Life Insurance

3 Answer

18 Mar, 2021
Akshay Punamiya

Hi Sanket,

I bought Max life insurance from their site directly.

I researched for the prices on Policy Bazaar and found cheapest option for pure term insurance.

Even after that I could save Rs 1800 per annum by directly buying from the website.

So my opinion is research from third party sites and buy directly.


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19 Mar, 2021
sanket pusalkar
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29 Mar, 2021
We breathe insurance :)

Hey Sanket,

We took a cue from your question and wrote a detailed article on the website: Buying insurance from Policybazaar Vs Insurance Company Website Vs Local Agent ( - Do check it out. Hope this is useful.

Thank you for your contribution on the Forum :)


Team Beshak!

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