Photo credits to https://www.lesfinances.ca/.

Most days of life may seem all hunky-dory to you and perfectly fine, and there’s hardly anything that could go wrong. But know this- the uncertainty of life can both be a boon and a bane.

In case of unfortunate incidents or a state of global emergency, you’d want someone sort of a financial cover. And if you’re someone who works hard to retire early and enjoy your life, a safety net will cover your expenses and terminate your money woes as you approach senility. Or if you have long-term goals to achieve, you’d want an additional hand to help you reach there faster.

We’re talking about having a reliable, comprehensive, and affordable insurance plan. Buying an insurance plan is essentially an investment that you make to secure your finances. 

The type of insurance plan that you might be looking for depends on your goals, your liabilities but most importantly, you should ideally invest in an insurance plan which gives you a high return on your investment upon maturity.

At this point, you need to stay clear of insurance agents that would bug you with calls while you’re at work or sales agents just knocking on your door. That’s the main reason why you should educate yourself on insurance investments, compare available plans based on your need, and then make an informed decision to buy any plan.

In the age of new media, when everything is moving online, why should you have to buy insurance plans offline?

Going digital and investing in an insurance plan online not only guarantee a high return on investment but is easy, efficient, and hassle-free. We tell you how:

 

1. Get Higher Sum Assured Upon Maturity

Sum assured is the total amount of the insurance plan guaranteed to you by the insurer. While buying insurance, always look for policies that offer a higher sum assured to give the best benefits.

Getting an insurance plan online will mean reducing secondary and tertiary costs. By doing this, your sum assured gets increased manifolds. With an offline insurance plan, many additional charges come hand-in-hand which reduces your sum assured.

 

2. You Get To Make The Call.

Remember, there is no deadline to buy an insurance plan. You can take your time, study about it, reflect on your finances and your income; take all these factors into account and then start short-listing potential insurance plans.

When purchasing insurance online, there is no sales agent continually breathing down your neck to buy anything. You have the power to decide for yourself and eliminate plans that you think do not fit the bill for you.

Insurance is a lifelong investment, and no one should force you or coax you into buying one.

 

3. Compare and buy a plan

The beauty of the internet is in the fact that it lets you explore everything, sitting in a chair in your home. From knowing nothing about insurance policies, you could become a master of the subject when you educate yourself about it online.

Online guides, blogs, infographics, and even chatbots help you understand different insurance plans, their pros, and cons if they are worth buying among many other curious queries you might have. Using all this can, you can compare policies and figure out what works for you.

Offline purchasing of insurance plans will cordon you off from the fine print about the policy, and you can end up buying something you never wanted in the first place. Therefore, getting insurance online will bring you up close with all the information so you can make a smart decision.

 

4. Pay lesser premium

When you buy an insurance plan online, you pay the annual premium for the plan online as well. The best feature of paying premiums online is that you pay a lower premium than its offline counterpart.

The reason for a lower premium rate when paying online is that insurance companies save a considerable chunk of money. They retain all the funds that would go into building infrastructure, hiring workforce, and other resources that would go into setting up offline channels for collecting the annual premiums.

Hence, a lower premium rate is offered to you when you buy an insurance plan online and pay the premium online as well.

 

5. Insurance plans online are cheaper

It is just an unspoken truth- anything you purchase in your life, you probably will get it for cheaper online, which is why online has turned into the best way to shop which allows people to save a handsome chunk of money.

The same goes for insurance plans.

Buying insurance online is just like buying a new house. An agent earns a commission from the insurance company when they successfully sell you a plan. This commission comes out of YOUR pocket in the face of a more expensive insurance plan.

When you shift online, the agent who is a middleman in this process gets axed out. Therefore, you end up with a cheaper plan. Besides, you cannot trust a sales agent’s words who can disavow anything that they might have said; a well-established insurance company has almost zero chance of doing so.

 

6. Check your insurer before buying.

The internet is a great tool to make background checks. When you’ve narrowed down on a specific plan by a particular insurance company, you can quickly run a background check on them. 

Information like this will help you understand if the company has a history of disputed claims which is something you should avoid. You can also check for red flags about the ease of settling claims and. Quora is one of the best tools to check and verify the experience of present/past customers of an insurance company.

 

7. Indulge in lesser paperwork

Since the entire affair is online, there is minimal to no need for any paperwork. You can send all your personal documents in the matter of a click, get them verified quickly, and get insurance without any paperwork.

When you shop online for an insurance plan, the paper trail reduces (making the environment thank you), and your filing worries can take rest.

 

8. Get 24×7 assistance

Live chats and quick assistance via bots have become an easy way to get help when shopping online. You can do the same with insurance. You can speak to a customer care executive on a chat both before and after buying a plan. There is always someone to assist you, no matter what the time.

 

9. Get Spoilt For Choice.

When you buy insurance online, you discover a plethora of plans that suit you. In a competitive market like this one, you get spoilt for choice as a customer. The easy way around is to focus.

 

10. Save time and money.

The whole process of shifting online for your insurance needs saves a lot of time. You can do it any time of the day/night as per your convenience and also end up saving money. You can get an insurance plan online within one day.

Investing in an insurance plan is a smart investment. While you need to tread carefully when choosing one, getting online to shop for one will cut your stress to less than half.