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Benefits of Buying Term Insurance Plans Online

Author: Yash Sharma
by Yash Sharma
Posted: Aug 01, 2016

We all know the role term insurance plans play in securing our family and our future financial plans. But, what we do not realize is that buying same term insurance plan online and buying it from an agent are two majorly different things as the benefits you get by buying a term plan online are way more than buying that same plan from a broker.

With the rapid growth in technology in the last decade, we all love to do everything at the comfort of our home. From books to clothes, everything is now available for sale online; and so is insurance. Yet there are many of us who have misconceptions and prefer buying a life insurance plans online. To burst all those myths and save you from the negative impact of those hidden clauses which your agent never told you, here is a list of reasons so as to why should you buy term insurance plans online:

You save on premiums

Buying a term insurance plan online saves the company from paying heavy commissions to the agents. As a result, the company shares that monitory benefits with its customers by offering discounts on online plans. There are innumerous term plans available online with covers as huge as Rs. 1 Crore and premiums as less as Rs. 10,000 per annum (approx.). For example, HDFC Click 2 Protect plan offers a cover of Rs. 1 Crore for a premium of barely Rs. 15,000 per year (approx.).

You can compare and buy term insurance plans online

Buying term insurance plans online allows you to compare plenty plans offered by various insurers. In no time, you can conveniently compare numerous plans on the basis of the premiums they require and the salient features they offer. You also check the reviews of all your shortlisted policies online and take a completely informed decision. This will enable you to choose a term insurance plan that demands minimum possible premiums and offers maximum benefits.

Ensures accuracy and transparency

By buying a term insurance plan online, you can be sure about the accuracy and authenticity of the information provided by you. It relieves you from the tension regarding the mistakes or manipulation of information done by the agent. Also, you can always check and recheck the information filled by you before you submit the form and you always have a scope to make corrections. Online purchase also ensures that the things have been made transparent from the provider’s side. Also, you will be notified via SMS and email about every progress in your application.

You can easily access the policy details

Last but the best benefit of buying insurance online is that after you have purchased your term insurance plan, you would not have to go through all those hassles to get the time to time details of your policy. Accessing the details of an online-purchased policy is as simple as logging into your account and checking whatever you want. Also, this allows you to make changes such as change of registered address, change of registered mobile number, etc. just by making a few clicks and investing a few minutes.

Aren’t these reasons enough to be sure about the benefits of buying a term insurance plans online rather than paying a substantial amount to your agent?

Remember, it is always advisable to fill up the forms and documents related to policy carefully ans on your own. This is because even a slight difference in the information can lead to rejection of claims ehne your family might need it the most.

About the Author

This is Yash sharma Sr. creative writer. I have written several articles on finance, insurance & loans & I like very much to write insurance articles.

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Author: Yash Sharma

Yash Sharma

Member since: Apr 19, 2016
Published articles: 9

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