Benefits of Purchasing Insurance Policy Online

Traditionally Indian buying behavior for life insurance policies was slim as people failed to value it as much as other necessities of life. However ,with more information and better awareness regarding the many pros of purchasing insurance plans coming to the fore, the trend of buying policies has risen dramatically—making it essential for insurance companies to allow purchases online. Today, online buying is not limited to purchases goods or ordering food only. With internet access and E-commerce websites being commonly used, customers can now buy insurance online as well.

There are various benefits associated with buying insurance policies through E-portals. Take a look.

Low Cost of Insurance

When you purchase your insurance policy online, you bypass various processes and intermediaries that come in between. Traditional purchase of insurance requires sales agents, charges for documents processing, and much more. This relieves the costs incurred by insurance companies which then pass on additional benefits to their customers in the form of reduced costs for the insurance policy of their choice. Also your personal costs involved in visiting banks and other pertinent Insurance offices stands excluded when you purchase an insurance policy from the comforts of your home.

Fewer Expenses do not Equate to Lesser Coverage

It is true that whenever you pay a lesser amount of money you start expecting reduced levels of services. This however is not true when you buy insurance policies online. Along with getting a discounted cost for your chosen insurance policy, you stand a chance of enjoying enhanced coverage from the policy you buy. The reason is that when you save money by using online portals to buy insurance, insurers also enjoy certain cost benefits –which are later passed on to their customers.

You are in Control

By being online, you have access to infinite amount of information. As a consumer you will feel empowered as you don’t have to rely on different sales agents to sell you insurance. You can find out about the benefits, cons, terms and all other relevant facts about any insurance policy online. Internet also offers you the chance to read and learn from the latest information about the plans that you wish to purchase. You can know more about customer experiences, insurance policies to avoid, benefits of investing in one policy rather than the other, and much more.

Safe Transactions

The insurance sector has bloomed into one of the biggest industries in India. To provide efficient services, there are numerous websites that help you to compare insurance policies safely, and then pay for them online. ComparePolicy.com is one such website where you can compare any kind of policy easily.

Perform the Right Checks

Gone are the days when you had to take the word of sales agent regarding a company’s reputation and its policies for granted. Social media and online forums are now openly sharing pros and cons of various companies and their insurance policies. You can learn about existing customers and their experiences and even interact with them. You can learn about an insurance policy first hand by talking to those that are using them.

Check out this Articles: Top Online Term Insurance Plans in India

Getting your insurance policy online is a beneficial act. However, you must bear in mind that by doing so you are not getting any advisory or help from any experienced sales agent. Therefore, you should be very careful while choosing the right insurance policy. Invest due time in comparing policies and research so that you don’t miss out on anything. Remember, You are buying life insurance for yourself and your future, so be as meticulous as you can be.

Harjot Singh Narula

Harjot Narula is founder and CEO of ComparePolicy.com, an IRDAI approved insurance web aggregator focussed on selling online insurance for companies. Harjot has more than a decade of experience in software development and has also spent 5 years in US working for the mortgage and risk management industry.

2 thoughts on “Benefits of Purchasing Insurance Policy Online

  • March 23, 2017 at 9:24 PM
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    We are needing to my insurance for my whole family since we just barely moved into a cabin three weeks ago up in the canyon and you never know what will happen. I was amazed to know that the article helped me know with online insurance you have access to infinite amount of information. I am no expert, I would imagine that with this type of insurance would be great to have since it is so accessible!

    Reply
    • March 30, 2017 at 12:09 PM
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      Thank you Jenna for reading the blog on Comparepolicy.com.

      We appreciate your time and effort. Online insurance buying actually offers you varied benefits too, along with an infinite amount of information as stated by you. Online buying is easy as you just need a computer system and an internet connection. You can compare among all the insurance policies and can zero down the best one as per your need. The comparisons offers you unbiased information which most of the times is not possible if you buy it from an agent.

      Wishing you all the best.

      Reply

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