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Prime 8 Reasons to Buy an Insurance Plan Online

With the availability of 4G data in India, the use of the internet has grown exponentially. In this modern era, not only the youngsters, but the old aged people are also using the Internet in full-swing. From paying your phone bills to booking your cabs, you prefer everything online these days, so why not insurance policies.

Why you still want to wait for an insurance agent to come and recommend you the insurance plan? Why not you use the internet for the same? Well, today we are going to discuss the prime 8 reasons for purchasing an insurance policy online:

Lower Costs:

Before purchasing anything, the very first thing that comes in your mind is its cost, and buying an insurance policy is not at all different. It is found that most of the insurance products are cheaper to purchase online than offline. There are some life insurance products that are available in 50% lesser price if you purchase them online. There is one major reason responsible for the lower costs of insurance policies if purchased online. This reason is - you do not have to pay for the charges of any intermediate body like an agent if you buy an insurance policy from the website of the insurer.

Simple Reputation Check of the Insurance Provider:

The social media these days have made it really easy to check the reputation of any insurance company online. People provide review online and share their experience on the social media sites pages of the insurance provider. Sometimes you may also find product specific review that can help you to take decision easily. Most of the times the reputation is given in regards to claim settlement. These reviews and information for sure help you to take a better-informed decision.

Higher Sum Assured:

Because of the lower cost of the policy, the average sum assured gets increased automatically when a policy is purchased online as compared to an offline insurance policy.

Fully Transparency:

From purchasing a policy online to renewing it to making a claim, everything is transparent if you are taking it online. This is because you know every factor of terms and conditions online and get to know about an insurance policy’s all ins and outs without any hidden factors.

The Whole Power is in Your Hand:

The insurance companies provide everything related to its insurance products online. From premium of a policy to its tenure to the features that it covers are available online. In this way, it gives you a complete power to understand an insurance product online. Additionally, it enables you to take an informed decision without getting influenced by an agent.

Absolutely No Paper Work:

When you take an insurance policy offline, you have to provide a whole pile of papers to your insurance provider. However, in the case of online purchase, the paperwork has become almost zero. As soon as you finalize an insurance policy, all you have to do is to fill a form online, complete the KYC, provide answers of some lifestyle or other related questions, and pay for purchasing the policy. All this is done online on the website of the insurance provider without any requirement of photocopies of your certificates, or other documents. Therefore, it is completely hassle-free and requires almost zero paperwork.

Saves Your Time:

An insurance policy purchased online saves a lot of time of yours otherwise buying a plan offline requires a lot of time at every step. From contacting an agent to paying for the policy to buy, at every level you have to dedicate time. All thanks go to the internet wherein you can browse on the website of an insurance provider, compare different plans, select one, apply it by filling the form, and pay for it by sitting any corner of the world. Moreover, your policy reaches your mailbox within a few seconds of purchase. Today, the government insurance providers offer the facility to purchase an insurance plan online.

Easily Compare Different Insurance Plans Online:

There are various web insurance aggregators available online. These aggregators give you an opportunity to compare different insurance policies online. By asking a few questions about your requirements, these plans provide the most suitable insurance plan for you.


There are people who have fear of purchasing anything online; however insurance providers these days have customer care, which in most of the cases is operational for 24*7. So, if you get confused at any step of buying an insurance policy online, you can contact the customer service of your insurer. From suggestion to help you to purchase the plan, they are available for you at every step. So, you should not worry about anything while buying a policy online. Moreover, the automated system of the insurers gives you a reminder about the dates of renewal.

The gradual move from offline to online insurance policy purchase is quite unavoidable these days as the insurance providers itself want to revolutionize the insurance sector as well. The integration of Artificial Intelligence and chatbots are there to help you at every step. In this way, online purchase of the insurance policy is considered as the biggest boon as it makes our life completely hassle free

So, what are you waiting for? Just select a plan according to your requirement and enjoy hassle-free processing.

Written By: PolicyBazaar - Updated: 04 September 2020

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