Top 5 Features Of Online Term Plans

The online term insurance plans available in India are loaded with features and benefits. As a result, many people prefer to buy their term insurance plan online. If you are in the process of buying a term plan, do consider getting the cover online. Here are some reasons to help you understand why:

  1. Cheaper

When you buy term insurance offline, you always end up paying more. This is because the offline plans have a higher processing fee as well as a higher administrative fee. Also, you pay a brokerage amount to the insurance agent who sells the plan to you. These factors push the premium rate up. However, when you buy the term insurance plan online, these expenses are lower and the brokerage is non-existent. Subsequently, the plan is available at a much lower price.

  1. More options

All the leading life insurance companies in India have online term plans. As a customer, therefore, you get many options to choose from and also to compare insurance policy. This makes it all the more profitable and beneficial for you to buy term insurance online.

  1. Allows you to compare

Next, you get to compare insurance policy when you buy term insurance online. It is essential for you to compare insurance policy as only after you compare do you find the best plan at the best rate. Additionally, it is very easy to compare and that is another advantage. And finally, you can use an online tool to compare the term plans free of cost. Keeping these benefits in mind, you should never skip the process of comparing term insurance before you make a purchase.

  1. Excellent service

Many people fear that they won’t get the assistance they need because the term plan is bought without the involvement of an insurance agent. This is completely untrue as modern life insurance companies offer excellent services when they sell term insurance plans in India. Everything from the platform used to buy and sell insurance to the customer support team are very well-developed. As a customer, you never face any issues and the assistance you need is always available.

  1. Helps to make a fair choice

And last but not the least, you get to choose a term insurance policy that you like. When an insurance agent sells you a plan, they sell you the plan that would help them to earn a higher commission. That play may not be good for you. But when you compare insurance policy online and buy a term cover, you make an informed and unbiased choice and this serves you very well in the long run. This is a big benefit that you must not ignore.

 

These are the main benefits you get when you buy term insurance plans in India over the internet.

To wrap it up

As you can clearly see from the points mentioned above, there is not one, but many benefits to choose from when you decide to shop for your term insurance plans in India online. The process to buy the plan is simple and the options are manifold, so go ahead and get the best plan to keep your loved ones financially protected.

Jul 14, 2021
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Gayatri Prabhu, Head-Digital Business at Mahindra Insurance Brokers Limited (MIBL) is one those few digital leaders who has the width and depth that is required to execute an ROI driven holistic digital strategy. She cuts through the noise, identifies the critical levers and leads her team to successful execution of the defined strategy. Her core mantra to win new and retain existing customers is: understand the consumer behavior and craft experiences around it.

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