Category Archives: Term Insurance

Benefits of buying Term Insurance Plan online


There are a huge number of insurance policies available in the market. Also, there are numerous platforms to bring them to the consumers. However, the combination of term insurance plan and online platform is the most successful one. We bring to you some of the advantages of buying a term insurance plan online.

term insurance

Cost

Cost, in terms of premium and amount assured, plays a major deciding factor to buy a term insurance. The online platform is considered to be cheaper than the offline counterpart by 50-70%. The reasons are quite obvious, one as there is no mediator therefore, the customer directly deals with the company. The only drawback is the competitive rates various insurance companies offer online. For instance, there are cases where customers have  purchased a term insurance plan at a certain price but, now the same plan is available at much less price with same amount of tenure and amount assured.

Flexibility

The online mode of buying insurance definitely comes with a lot of flexibility in terms of the kind of term insurance plan you would want to buy. One has to also conduct some research before buying a policy online as there is no agent to guide you with the right processes. However, it is much of a blessing in disguise as we often tend to buy policy under a laid back attitude in presence of an agent.

Claims Settlement

The only reason people are still apprehensive to buy an insurance policy through the online platform is the claim settlement process. The concern is justified also as there is no data to back-up the number of claims settled for the policies purchased online. The companies usually put up a compiled report of both online and offline claims settled data therefore, not giving a clear picture on this agenda.

Sum Assured

The sum assured in a term insurance plan through the online mode is higher than its offline counterpart. One reason as mentioned is the low cost involved in the entire process. Also, the marketing tactic can be given credit for it. The constant pop-ups online with lucrative lines such as “One crore term for just Rs 500 a month or Rs 17 a day” definitely lures you as opposed to an agent trying to convince you for a certain policy.

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Continue to Provide for Your Family with a Term Insurance Policy


We all hear statements which roughly mean, ‘you only live once so live it to the fullest.’ However, more often than not, we tend to get caught up in work and the quest to earn money. We forget to take the time to stop and smell the roses, to spend time with our families and enjoy the smaller things life has to offer.

But if you think about it, the statement has a lot of truth in it. We must live our lives to the fullest and take every opportunity that comes our way. While we are making plans for the future, it is also necessary that we create a safety net, to make sure that our loved ones are secure if something was to happen to us.

One of the best ways of doing this is to opt for a life policy. Generally, whole life insurance tends to have higher rates of premium, in comparison to the term insurance plans, making the later an economic option. Lately, the process of purchasing these policies has been simplified. With the development of the internet, a number of people chose to buy term insurance online.

Term Insurance

These policies offer coverage for a fixed period of time, after which the policy can be renewed if required. Online term insurance has a number of different offers, which can be easily compared and studied over the internet its self.

Thus, the process has become extremely simple. With a few clicks, you can make sure that your family remains financially secure even if something was to happen to you. Once this burden lifted from your shoulders, you are free to live your life to the fullest and enjoy every single moment you have.