Online Term Plans Gaining Popularity – Convenience at a Click

The article is written by Mr. Gaurav Rajput CMD Aviva IndiaIf you want to contribute guest post on this blog, check out the guidelines and join our information sharing program.
Just like eating an apple every day keeps the doctor away – getting insured early is equally important. Online term plans are gaining significance as they offer higher life cover at low premiums compare to their offline counterparts. Term plans basically are protection plans intended to help a family financially in case of the death of the person insured.
One can buy term plans in 2 ways – online and offline. Off late, many people have started buying term plans online because of the convenience and pricing.

Why buy insurance online ?

term insurance online

What do you do when you want to buy a book, game, etc.? You either visit a shop or check if it’s available online. The same trend for online insurance is picking up.
How convenient it is – buy insurance policy at a click of a button. Here are few benefits of buying insurance online:
  • Comparison – You can compare various policies which suites your need and buy the best from them. There are various websites where you can compare various insurance policies and buy the one which best suites your need.
  • Time Saving – You save time when you buy insurance policies on the internet all you need to have is a computer, a decent internet connection and a fair understanding about using a computer. It takes around 20 minutes to buy an insurance policy online. You can buy it during any time of the day.
  • Cost Effective – This is one of the crucial benefit one gets by buying insurance online. The reason behind this is that the commission which is actually passed on to the agents is saved and the benefit of which is given to the end users/customers. The difference between the premiums of an online term plan and an offline term plan can vary anywhere between 40- 50%. This is the main reason why online term plan are picking up and gaining popularity these days.
  • Hassle Free & Secured – The interface used is quite simple for every one to understand and is hassle free as you have every thing in front of you before buying a plan. Buying online is secured as these websites are hosted on SSL certified servers and one can transact without fear.

Online Term plans in India a comparison

Here is a comparison chart from Economic Times of various online term plans in India
To combine it all you get various benefits of buying term plans online ranging from low premiums to time savings.

3 thoughts on “Online Term Plans Gaining Popularity – Convenience at a Click

    1. Robinsh

      If we will see for the general difference between online and offline term insurance plan then it is the first one that you will save a lot of time taking agent calls or one to one conversation.

      But the main difference should be – in online term insurance company will save commission of the agent who involves always in offline insurance and then you pays smaller premium amounts for the same sum-assured.

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