Life insurance is a cover given on one’s life. Protecting your life is important because it is your greatest asset. It is your responsibility to secure your family’s financial future when you are not alive.
Is it worth buying life insurance online or not?
Until recently, life insurance was sold offline by insurance companies or through one of their agents. But, due to technological modernization and increasing use of mobile devices, people now have the option to buy life insurance policies online.
Even after the introduction of online selling of life insurance policies, most of the people are either not aware of it or are not familiar with the process. In this article, we will explore the benefits of buying life insurance online.
It is important to know what you need to keep in mind before making a purchase through life insurance agents or online.
Things to keep in mind while buying a life insurance policy:
your financial needs
Plan Features and Benefits
cost of life insurance cover
Claim settlement ratio of life insurance provider etc.
Following are the benefits of buying a life insurance plan online:
All you have to do is visit the website of the insurer or aggregator online. Just follow a few quick steps and you’re done.
You can get your free quote.
You can get your insurance quote for free with Online Life Insurance Calculator, Compare different plans online! It helps you choose the premium as per your required coverage.
With an online portal, you get the benefit of preparing anywhere, in your own time with a stable internet connection from your mobile device. It takes less time to buy life insurance policy online.
No brokerage/commission charges.
This is another great advantage of buying a life insurance policy online. Online plans are generally cheaper, as there are no intermediary costs involved, giving you a similar policy for less than offline rates.
Clearly compare plans without any bias and help you make an informed decision.
When you choose an online life insurance plan, you have the option of logging into the insurance company’s website directly, browsing through the different types of plans they offer, and choosing the one that suits your needs. . is an option. The parameters on which you compare different plans include plan-specific details, such as available riders, term offers, or insurance company-specific features (insurance-company-specific features) such as claim settlement ratio ).
Buying life insurance plan online is safe.
The websites also ensure that the transactions are secure and your personal details are also safe as they are encrypted. This encryption is usually OTP (one-time-password) secure, which means that the number or e-mail associated with your insurance account will receive a passcode that you enter every time you log in.
All the details are available at your fingertips.
Insurance companies also explain how the plan works, so you can have complete transparency about the policy you are buying. In fact, most insurance companies allow you to learn and do everything online, from eligibility requirements to calculating premiums using a life insurance calculator for applicable premiums. You can also apply online on their website before buying a life insurance policy. You’ll find sections detailing riders you may be familiar with yourself. If you have any questions, you also have the option to speak to an expert online.
You can securely track your premiums, policy term and much more.
The online mode allows you to easily track your premium payments, policy renewals, premium payment dates and much more.