What Are the Benefits if you Buy a Term Insurance Plan Online?
Have you been delaying getting insurance because of the lack of time or because you want to avoid the hassle of visiting the insurance company’s branch office again and again for a policy? No need to delay anymore! You can buy a term plan online within minutes. SBI Life eShield is the sole term plan sold by the company online.
Pros of Buying a Policy Online
Online policies are self-serviced polices. In other words, no agent is involved and therefore they tend to be cheaper than their offline counterparts. Buying a policy online has its own pros and hardly any cons.
- Saves Times – As mentioned above, you can save time and effort. You just have to furnish your personal details, choose your plan option, term and cover amount, and you are good to go. You will also need to upload scanned copies of your KYC documents, pay through an online source and you have a term plan in your name. And not just that, you can also pay your premiums online.
- Calculate the Premium Yourself – With the help of the premium calculator, you can calculate the most affordable premium. While doing so, you may be asked whether you are a smoker or not. Premiums are lower for non-smokers.
- No Medical Check-ups – Online policies need not necessarily require you to go through a medical check-up. However, you might consider getting it done because insurance companies reward individuals with a healthy lifestyle by offering lower premiums.
- Saves Money – Being cheaper in nature, you can buy the same policy for a lower premium or you can buy a higher cover at the same premium amount as compared to its offline counterpart.
- Helps You Make a Smarter Decision – Unlike an offline policy, where an agent may be more interesting in selling you something that helps him rather than purely having your interest in mind, when you buy a term plan online, you can make an informed decision. With all the information available on the website, and experienced representatives of the company willing to help you with any questions, you can choose a plan that suits your perfectly. Just download the policy brochure and go through the term and conditions yourself. You can also check the claims settlement ratio of the company on the web. Additionally, you can also check customer ratings and reviews.
You must not conceal anything or give incorrect information while buying a policy online. This can result in rejection of claims at a later point.