Why online term plans are better? | Fusion - WeRIndia

Why online term plans are better?

Why online term plans are better?

Often many people have a confusion whether an online term policy is better or offline policy? Though each has its merits here are some convincing reasons to buy an online term policy.

Now-a-days majority people have access to internet. So, taking an online policy is a matter of minutes. You need not spend hours of time to discuss about the policy with the agents of the company nor need to go anywhere.

You can simply have your desired online term policy by sitting in your home.

Why are online term policies a better option than the offline policies? Here are the reasons.

Online policies are 30 to 40 per cent cheaper than offline policies due to no involvement of intermediaries. The policy holder can directly take the policy from the company website and thus commission is avoided to the agent.

Online plans provides high sum assured for a lower premium. The plans range from ₹ 5 lakhs to ₹5 crores and beyond that also.

While filling application form, the policy holder should have to furnish all details including medical history, lifestyle, habits etc.

Normally some information is skipped in offline which may later cause problem at the time of claim settlement.

But, while filling the application form online, all the required details are to be compulsorily filled, otherwise the form does not allow the applicant to go ahead.

Furthermore, all details are filled by the policy holder, so there is no change for discrepancy in the details.

While filling the form online, the applicants can call the companies to clarify their doubts.

Similarly, at the time of claim settlement also, you can directly co-ordinate with a pre-designated call center.

Many insurance agents or brokers misguide by saying they will help in claim settlement. Whether it is an online policy or offline policy, claim settlements are made as per the guidelines of IRDA.

So, why do you need a broker in between you and the company? Take an online term policy and live securely.

Image Credit: Nick Youngson CC BY-SA 3.0 Alpha Stock Images

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