Buying a Life Insurance for the family through online mode has been emerged as the most preferred method for buying and selling the Term Insurance products.

 Online Insurance Plans are convenient and are easy to buy and offers better returns at low premiums.

Most of the insurance buyers are typically man that are aged between 30 Yrs and 45 Yrs and belongs to professional, young and tech savvy people.

Online Term Insurance Policies are taken by those consumers whose awareness regarding the insurance policies is very high.

Advantages of Online Life Insurance:

Online Insurance Policies offers 30-40 % cheaper premiums than offline counterparts. Features of the offline and online policies are same.

The Procedure

Step 1: First of all fill up the proposal form in which you will have to disclose your personal details including your medical history, details of the family and liabilities.

Step 2: After completing this procedure, you will get a premium estimate through which you will get an idea about how much you will have to pay.

Step 3: After determining the insurance buyer response to the questions, age and the sum assured chosen, only then the preliminary premium gets fixed.

Step 4: If you feel satisfied with the policy offer, you can go ahead by making payments through credit card of Internet banking.

Flipside:

• People who buy online insurance plans have to visit the company office on their own with his documents to get the deal done. This reduces the friendly neighborhood of an agent to assist in with the paperwork of the policy borrower.

• Thus, the advantages clearly outweigh the negatives of life that is assured.

• With the help of an agent, a person will get through all of the procedures and the formalities of the policy.

• However beware of the insurance agents that are misleading and dishonest. Private insurers can quit the job, and when you will need help, you may not find them for your help.

• So try to focus on the features and quality of services offered by the insurer. This makes Online Insurance policies best as compared to offline policies.