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Advantages of Buying Insurance Online

Life insurance penetration in India is low as many individuals still consider buying life insurance an unnecessary investment. Nevertheless, with life's inherent unpredictability, readiness for unforeseen circumstances can be the right protection against them. A life insurance policy provides the dual benefits of savings and financial security for your loved ones in case of an unfortunate event. It is important to understand the advantages of life insurance and why you should buy this plan online: 

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Buy Life Insurance Online in 1 minute. 

You can buy life insurance online easily with a couple of clicks. Also, online life insurance is more cost-effective than offline life insurance because there are no agents or intermediaries involved in the buying process. While both offline and online platforms offer the same insurance plans, there are several benefits of buying a life insurance plan online. There are a number of advantages of life insurance if you are buying it online: 

one crore term plan
plus

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day+

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day+

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day+

Top 5 Advantages of Life Insurance Online 

  1. Informed decision-making 

    Purchasing insurance online is convenient, allowing you to research and compare various plans to find the one that suits your needs. You can explore plan details, premiums, benefits, and customer reviews, as well as check the claim settlement ratio (CSR) of life insurance companies on their website. Policybazaar provides a single platform for multiple insurance options from different insurers. This option is not available in the case of offline modes. 

  2. Lower Premiums 

    Online life insurance plans are less expensive than offline due to reduced paperwork and streamlined online processing. Additionally, if you buy life insurance early, you are likely to pay even lower premium rates, resulting in your health and lower risk of mortality. Moreover, buying a regular income plan at a young age helps accrue a large corpus for the future, leading to compounded returns over the long term. wealth accumulation over time, 

  3. 24X7 customer care support 

    Insurers online offer effective customer services as the online mode is their exclusive medium for sales and support and one of the important advantages of life insurance. Also, the websites of these insurance companies are user-friendly and designed to cater to every need. You can easily check a wide range of insurance plans offered by insurers to access policy details, calculate premiums, download documents, receive quick insurance quotes, facilitate seamless policy renewals, make secure premium payments, monitor your returns, and initiate claims, all with ease and confidence.

  4. Higher flexibility and lower risk

    Online insurance policies provide enhanced flexibility to align with your financial requirements, offering comprehensive information on their company websites for your convenience. 

    Online life insurance policies, including regular income insurance plans, offer higher flexibility by combining insurance coverage and savings. These plans help to financially safeguard your loved ones in case of your death during the policy term. These plans offer term insurance riders to increase your insurance coverage. 

    A savings plan helps in achieving long-term financial goals. You can utilise the regular income plan to cover car EMIs and home loans or establish a steady income stream for retirement, with the option to choose your income period. Online plans offer enhanced security compared to offline options as they establish direct communication with the insurance company, reducing the risk of misunderstandings in terms and conditions.

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Wrapping It Up!

In addition to the above-mentioned factors, the ubiquity of digital technology and internet access in the country has amplified the trend of buying life insurance online. Make a savvy choice by harnessing the digital realm to explore the manifold advantages of life insurance policies that cater to your specific needs.

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