Life is awash with things and events that bring us joys and
sorrows in equal measures. No one is inoculated from the vagaries of life. To
secure the financial future of your loved ones when you are not around, having
a life insurance plan is critical.
Different families have different kinds of needs, and to
safeguard their future in the absence of the breadwinner, insurance companies have
launched numerous life insurance plans. The simplest among them is a term plan.
A term plan is designed to protect the financial health of
your family when you are not around. It will pay your loved ones adequate
amount of sum assured in order to meet the basic financial needs and assuage
the lasting impact of the financial loss in the event of the death of the
insured.
A simple term plan offers extensive life cover options for a
reasonable amount of premium. It provides adequate income replacement to the
loved ones. That’s why buying a term plan is largely considered an integral
part of individual financial planning exercise.
With the rapid evolution of the internet, buying a Online Term Insurance India has become
easy. You can simply visit the insurer’s website, generate a quote, and buy an
insurance plan online. Following are the five reasons why you should opt for this
medium:
1. Low Cost
When it comes to purchasing anything, the first thing that
crosses your mind is its cost. Insurance products, be it a life or general
insurance policy, tend to be up to 50% cheaper online than their offline
counterparts. This is because you can purchase from the insurer directly; there
is no involvement of any intermediary. Thus, the channel sales cost are not
passed down to you. This makes the policy cheaper.
2. Efficient Process
In the online process, you are required to fill details before
generating the quote. There is no physical form filling as such, where there
are chances of errors. Moreover, the sophisticated user interface and process
implemented by the insurers avoid the chances of errors. For instance, if any
of the crucial details such as email, mobile, or date of birth goes wrong, then
the website will highlight the respective field.
3. Easy Comparison
In order to get the best deal on any product, it is
recommended to research and compare. Same is the case with term insurance plan.
With websites, you are easily able to browse through different products,
compare their benefits, the exclusions, premium options, riders, and discounts.
This helps in taking a better informed decision.
4. Higher Transparency
Whether you are choosing a simple term plan or a term plan
with guarantee of monthly income, insurers have the details of each and every
plan on their website. You can browse through the products to know all about
the plan—its key offerings, benefits, the extent of cover, eligibility criteria,
procedure of application, claim filing process, and much more on the website.
On the other hand, rarely will an insurance agent offer the complete brochure
of products. This broaden your perspectives, thereby helping you choose the
best term plan that suits your requirements.
5. Quick Customer Support
Unlike the offline mode, the online mode is fast, efficient,
and easy to use. There is a dedicated customer support team to assist you with
a variety of queries. Moreover, the insurers maintain a knowledgebase of
articles that help you choose the best life insurance plan. For example, things
to look for while buying insurance plans, and other such helpful reference
material to help you pick the right product. Such kind of support is not
readily provided through the offline medium.
These are the five key benefits of buying a term plan
online. So why approach an agent when you can easily buy a policy online and
secure your family’s future?
Thank you for sharing such great information. It is informative,You can also find out more detail on Term Plans.
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