*Please note that the quotes shown will be from our partners

8 Reasons Why You Should Access your Online Insurance Account

Given the increasing penetration of internet in our lives, one would imagine numerous people adopting the digital route to buy life insurance policy online. Surprisingly, however, insurers have found that only a small percentage of the policyholders access their online insurance service options. Most of their existing customers still prefer to visit the insurer’s office or call up an agent. While these may seem like good practices, the problems attached are manifold. Take for instance, an agent may not be fully aware of all the plans and their benefits. And, regarding approaching an insurer’s office, you don’t know how much time you may end up spending there!

To allay your hesitation regarding using online insurance services of insurers, we have listed here the benefits associated with them: 

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

1. Download e-statements:- While furnishing investment proof for tax purposes, most of us run from pillar to post to get hard copies of investments. During those trying times, online insurance services can come to your rescue. With the help of your online account, you can get a certificate of premium paid for income tax purposes. Instead of collecting separate premium receipt dates, just one click can give you a consolidated statement of all policies.

2. Check fund value:- For most of us, the monthly statement sent by the insurer is the only way to know about the fund value. But with online insurance services, you can keep a tab on the fund value on a daily basis. All you have to do is log in to your online account.

3. Trace unclaimed amount:- Both policyholders and nominees can access details of their unclaimed amount on the insurer’s website. Upon entering basic details such as name, date of birth, policy number and permanent account number (PAN), an insured can find out details of any unclaimed amount.  

4. Switch funds:- In order to see your money grow or stay secure, you need to take immediate steps during changing market conditions. Some investors switch from debt funds to equity or vice versa, in accordance with the market conditions. To fasten the switching process, various companies allow online switching also. The premium redirection, fund switching and change in premium frequency is easy when you have access to your online account.

5. Track policy status:- If you have bought more than one policy from the same insurer, an online account helps you to list down all of them at one place so that you can easily track your investments in one go.

6. Pay premium online:- You can pay premiums online to save both your time and energy. Better still, you can automate your payments so that you never miss out on a payment.

7. Update contact details:- The online account with an insurer allows you to update your contact details, such as phone number and address, in a matter of minutes. Thus, you can avoid filling up the numerous forms that you may have to otherwise during your visit to a branch office.

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

8. Register complaints:- The online insurance service allows you to register complaints and give suggestions. Moreover, you can track the status of your application as well.

As a policyholder, you should exercise all these online insurance services that not only prove to be cost-efficient but also save your precious time.

Written By: PolicyBazaar - Updated: 06 January 2021
You May Also Want to Know About
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call
How to Check LIC Policy Status, Details, Statement via Online/SMS/Call Last year, Mr. Rajiv Verma bought a Child LIC policy to provide financial security for his kid's future. However, due to time constraints or negligence, he forgot to pay its ...
LIC Online Premium Payment
LIC Online Premium Payment The Life Insurance Corporation of India is one of the most recognized and trustworthy names in the Indian life insurance industry. LIC, established in 1956, has been providing various insurance products to millions of ...
How to Check PLI Status?
How to Check PLI Status? Dating back to February, 1884, PLI (Postal Life Insurance) is one of the oldest life insurers in the country. Started as a welfare scheme to provide benefits to the employees of the Postal department, PLI has really come...
LIC Login: LIC Customer Login Process at Online Portal
The LIC login portal is user-friendly. With the LIC online login facility, customers can easily avail themselves of the different facilities at the comfort of their homes or offices from anywhere in the world. All you need to do is create the use...
Life Insurance: Checking Policy Status
Life Insurance: Checking Policy Status Buying life insurance policy is the first step towards building a corpus amount for the future. It takes many permutations and combinations to actually choose a life insurance policy, analyzing its benefits...
Download the Policybazaar app
to manage all your insurance needs.