Why You Should Buy Life Insurance Online
3 min read
Insurance products of all kinds are now more accessible than ever before. Most plans are now available online as well as offline. Being able to buy a new life insurance policy online means that you are only a few clicks away from securing your financial future.
Life Insurance (Online vs. Offline)
Many consumers tend to be wary of buying life insurance online. This may be especially true of people who have relied on offline buying for a while. While it may seem new, online policy buying is simple and reliable.
Offline buying offers a sense of familiarity with the process. You may find yourself attaching the name of a representative to all your insurance matters, which may offer you some degree of comfort in the process. However, there are some costs that tend to be higher offline rather than online. Also, offline buying allows you a relatively shorter look-in (trial) period in most cases. With online policies, you can choose what’s best for you from all available options.
If you have been contemplating whether to make such an important purchase in a few clicks, consider these five advantages of buying life insurance online.
- Flexibility to compare
Potential insurance customers are spoilt for choice. With a variety of options available, there is more than one plan out there that suits their needs. Instead of settling for a plan that is relatively accessible, you can now check all plan options online and chose one that suits you best. Comparing one policy to another online is easy and gives you a better idea of your options.
- Transparent process
When you buy life insurance policies online, you are transacting directly with your insurance provider. It means you have access to all the information that the insurer aims to provide on the consumer end. Even before you buy, you can clear your doubts and queries through the customer service side. Also, all your documents are submitted to the company directly.
- Lower cost
Online life insurance plans tend to be much more affordable than offline life plans. It is usually so because the customer does not have to pay any intermediary costs since they are buying directly from the policy provider. Since you do not have to worry about any third-party processing fees or charges, the expenses tend to be significantly lower.
- Better Sum Assured
Apart from lowers costs, the sum assured also tends to be higher in online alternatives of life insurance policies in India. Since there is no extra cost involved, insurance providers can afford to offer a higher sum assured to the customer. You can use online calculators to get a better idea of how much sum assured your premium can get you.
Life plans are one of the simplest ways to care for your family. When you are gone, the financial security that you have extended to them beyond your life will remind them of how much you care. Such decisions may require careful thought and deliberation on your part. But once you are ready, know that life cover is merely a few clicks away.
