Advantages of Buying Insurance Online

As we think about buying insurance, an agent is the first person to strike our minds; the agent who would understand our needs, suggest a plan accordingly, brief us about its features, and take care of all the paperwork. But, the way internet has made shopping clothes and shoes online convenient, it has opened doors to buy insurance in the same way. With thorough information available online, it is possible to do a detailed comparison, understand the different types of life insurance plans comfortably, choose and buy insurance online. Buying insurance online is not only convenient but also one of the cheapest and the fastest methods of buying insurance. Online insurance is growing steadily in India and a lot of people have opted to purchase and renew their insurance policies online instead of going by the traditional offline channels.

Here is why you should do the same:

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. This ensures accuracy and transparency of information, thus, helping you to make an informed choice. Buying online makes evaluation 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 forums available online.

Cost Effective

Along with being quick and convenient, the online route is the most cost effective means of buying insurance. The premiums with online policies are comparatively lower because buying directly from the insurer saves you from paying commissions to distributors. Omission of intermediaries and add-on costs like commissions, overheads and other operational costs has contributed in decreasing the overall cost of the insurer, which is passed on as a benefit to customers.

Easy, Fast, and Convenient

We buy insurance to be prepared for the uncertainties that might strike with time; and since we are running against time,buying insurance online saves a lot of time.  Whether you want to buy life insurance or health insurance, waiting in long queues to get the quotes is no longer required. Buying insurance online is easy and convenient because it allows you to compare, choose and pay for the best suitable plan. 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.

Paper-Free

Online buying is paper-free from start to finish. Right from the application to filing of claims, the process is digital. 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 exercise due care while entering your personal details in the system.

Automated Service and Assistance

The online platform is not limited to sale. Along with the above discussed benefits, buying insurance online facilitates with 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. Also, you can take the offline route to get assistance by calling the toll-free numbers of the insurance companies.