Advantages of Buying Insurance Online

Why Should You Buy Life Insurance Online?

You should buy life insurance online because it allows you to make a detailed comparison, understand the different types of life insurance plans comfortably, and choose the right insurance online. Here is a list of the top 5 advantages of buying insurance online:

Term Plans

₹1
Crore

Life Cover

@ Starting from ₹ 16/day⁺

VIEW PLAN

₹50
LAKH

Life Cover

@ Starting from ₹ 8/day⁺

VIEW PLAN

₹75
LAKH

Life Cover

@ Starting from ₹ 12/day⁺

VIEW PLAN

1. Cost Effective Premiums

   Along with being quick and convenient, the online method is the most cost effective means of buying life insurance. The premiums with online policies are comparatively lower because buying directly from the insurer saves you from paying commissions charges by the agents. Not only that, but there are several other ways like online discounts and offers that decrease the overall premium for the policy, which is passed on as a benefit to the policyholders.

2. Informed Choice

   Buying an insurance policy online enables you to access detailed information about the plan, its salient features, and the terms and conditions on the insurer’s website and comparison platforms like Policybazaar. This ensures accuracy and transparency of information, thus, helping you to make an informed choice. Buying online makes comparison of different types of insurance plans easy for the customers. Further, the premium calculators available online help you to find a plan that fits your budget and needs. Also, you can check the claim records, financial records and credibility of the insurers through multiple customer reviews available online.

3. Easy, Fast, and Convenient

   We buy insurance to be prepared for the uncertainties that may arise overtime. Buying insurance online is easy and convenient because it allows you to compare, choose and pay for the best suitable plan. The process saves a lot of time as the buying process requires just a few minutes and simple steps. Whether you want to buy term plan or health insurance, waiting in long queues to get the quotes is no longer required. The process of online application for insurance is smooth as well as quick and a secure payment gateway in places makes the process simple and fast.

   Note: Know what is term life insurance first and then buy a term plan for your loved ones.

   Note: You can easily calculate the term plan premium by using the term insurance premium calculator online tool.

   Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.

   Note: Check out the best term life insurance in India and choose one that suits your requirements.

4. Paper-Free

   The entire process of buying insurance online is paper-free from start to finish. Unlike the traditional means of buying insurance, online insurance doesn’t make you wait for the printed documents to arrive. The digitally signed policy documents are with you as soon as the payment gets processed. Even the required documents like Pan Card and other ID proofs can be sent as scanned copies to the insurer. Through online issuance of the policy you get easy access to the documents wherever and whenever you require; without having to carry the physical documents along. The only effort required from you is while entering your personal details in the system.

   *All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

5. Automated Service and Assistance

   Along with the above discussed benefits, buying insurance online offers automated reminders regarding renewal dates. It is also an efficient and prompt servicing platform which can be used by existing policyholders. Since, not all of us are tech-savvy and might face challenges in accessing the online portal of the insurer; therefore, websites usually have a live chat facility available. You can get in touch with the customer care of the specific company and get your issue resolved online. Also, you can take the offline route to get assistance by calling the toll-free numbers of the insurance companies.

Final Thoughts

Buying insurance online is convenient and one of the most affordable and quickest ways of buying insurance. Online insurance is growing steadily in India and many people have opted to purchase and renew their insurance policies online instead of going by the traditional offline channels like agents.