Top reasons to buy insurance online

With the ongoing reforms in the insurance sector in India, there are dozens of life insurance service providers operating in the country. Every company has a bouquet of products and each one of them try to put forth their offerings. Today most companies are promoting online channels to promote their products.

In this scenario when the companies advertise their products through this widely used media, it becomes confusing for a person who wishes to buy term insurance. Here are the top reasons which you must gauge in order to arrive at a prudent decision.

Right information: Buying insurance through agents is fraught with wrong information. Agents have their own vested interests in promoting certain set of products. There may be different reasons why they promote them. It may be higher commission, target-related benefits, so on and so forth.

But when you buy insurance through online media, you get the information directly from the insurance company. This information is openly available in the public domain. If you have any queries, you can simply drop an email to the customer care cell of the company and they reply to you. You can also feed in your phone number for a call back from the company.

Comparability: The proliferation of online media has paved way for web aggregators which provide genuine information on the various insurance products without any prejudice. They also provide efficient web applications that help compare the various insurance products. Before you go for online comparison, you may rather shortlist a few insurance policies so that you compare them rationally in one go.

This is unlike working with agents where you are supplied with a very limited amount of information. They are mostly having one or two insurance companies and thus they avoid talking about other products.

Cost efficient: Needless to say that online buying is cost efficient. But you may say that it is cost efficient for the company. How does it matter to you? It does – because ultimately the benefit is passed on to you in some way or the other way.

Also, it is very effective in terms of keeping track of your investment in insurance. You get an Online Term Insurance Plans In  India through which you can check the updates related with your insurance policy.

Higher sum assured: There are chances that you may not get lower premium amount on insurance policy. You may feel that there is no benefit in buying insurance through online mode. But there may be indirect benefits associated with online transaction. You may be receiving higher amount of coverage in the same amount of premium. 

Source: http://www.policyx.com/blogs/part-i-top-reasons-to-buy-insurance-online/