Buy Insurance Online to Find a Cheaper Bargain
Unlike what you might think, online insurance does not mean that you will not have an insurance agent to deal with you personally or that you will have no human interaction, whatsoever, and will have to deal with the idiot box on your own.
When you buy an insurance online, a representative comes to collect your documents at your home or office, and to clear all your queries, whether you pay online or by cheque, DD, cash or use any other payment mode.
You may also have to undergo prescribed medical tests at the designated centers, if necessary, and the company representative will fix your appointment just like the offline insurance policy process.
The advantage of buying and insurance policy online lies in the fact that the use of technology makes the entire process much easier and smooth.
If your insurance policy does not require any medical tests, you will most probably be insured almost instantly.
Most insurance companies allow you to use credit cards for online transactions, along with picking up cheques or opening up an ECS debit account.
Investment banks like HDFC offer an additional optional facility of paying your premiums through net banking transactions, which takes off the burden of remembering to pay them on time or bear penalty charges.
Some of the major players in the field of online and offline insurance such as HDFC offer attractive discounts on the same products online.
For example, HDFC Standard Life's YoungStar Super Suvidha, Pension Super, and Endowment Super Suvidha plans charge only 10% allocation charges for the premium paid during the first year and 5% in the second year if procured online, rather than 15% and then 10% charges that are applicable on them offline.
This means that you save a lot on your preferred insurance plan overall.
Other companies too offer insurance plans and even ULIP plans that are 40% to 50% cheaper, if bought online.
This reduction in price is due to elimination of hefty agent commissions that companies have to shell out for their offline products.
The administrative charges for both online and offline insurance plans remain same and most companies discontinue it after a tenure of five years.
So, next time you decided to buy an insurance plan, do it online.
When you buy an insurance online, a representative comes to collect your documents at your home or office, and to clear all your queries, whether you pay online or by cheque, DD, cash or use any other payment mode.
You may also have to undergo prescribed medical tests at the designated centers, if necessary, and the company representative will fix your appointment just like the offline insurance policy process.
The advantage of buying and insurance policy online lies in the fact that the use of technology makes the entire process much easier and smooth.
If your insurance policy does not require any medical tests, you will most probably be insured almost instantly.
Most insurance companies allow you to use credit cards for online transactions, along with picking up cheques or opening up an ECS debit account.
Investment banks like HDFC offer an additional optional facility of paying your premiums through net banking transactions, which takes off the burden of remembering to pay them on time or bear penalty charges.
Some of the major players in the field of online and offline insurance such as HDFC offer attractive discounts on the same products online.
For example, HDFC Standard Life's YoungStar Super Suvidha, Pension Super, and Endowment Super Suvidha plans charge only 10% allocation charges for the premium paid during the first year and 5% in the second year if procured online, rather than 15% and then 10% charges that are applicable on them offline.
This means that you save a lot on your preferred insurance plan overall.
Other companies too offer insurance plans and even ULIP plans that are 40% to 50% cheaper, if bought online.
This reduction in price is due to elimination of hefty agent commissions that companies have to shell out for their offline products.
The administrative charges for both online and offline insurance plans remain same and most companies discontinue it after a tenure of five years.
So, next time you decided to buy an insurance plan, do it online.
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