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Why Purchasing term insurance online is good idea?

Why Purchasing term insurance online is good idea?
April 11, 2019


The advent of digital technology in the financial industry has led to a boom in the transparency factor and accountability while choosing. While buying any term insurance plan, there are a lot of factors that must be addressed and this makes it all the more important for you to make an informed decision that allows you the flexibility of choosing a plan that takes care of your specific needs and requirements. In these times of financial stability and the need for having a sufficient corpus in place, the importance of a term insurance plan can hardly be undermined. A traditional term insurance plan significantly insulates your saving reserves from any unforeseen financial demands and categorically cushions all the kinds of financial contingencies that your loved ones may face in your absence. Earlier, comparing and analyzing term insurance plans was not an easy task, given the fact that offline mode is a very elaborate and extensive platform that comprises of endless documentation, meetings with agents, regular office-visits and never-ending red-tape mechanism.

In this context, digitization and the now-predominant online mode of comparison and choice has made things extremely easy and streamlined for the average consumers. Being online gives you the opportunity of directing your search to the specific points of action and procedures. Online mode of policy comparison and choice is unique not just because it offers you a simple and hassle-free domain of choice, but also because it is much more transparent, has reduced levels and possibilities of any manual error and there is a greater sense of security while transacting. Furthermore, one of the most important factors that counts is that of speed. What this actually means is that you get to compare various plan features while sitting in the comfort of your homes and there is no need for any extra-solicited or unwanted offline consultation. This also means that your precious time is saved and you get to focus more on your own priorities and fulfillment of your requirements so that your financial aspirations can be fulfilled in a timely manner.

Comparison of online plan-features comprises of different parameters that allows you to have a pointed view of what your actual requirements are. These parameters allow you to have a clear idea about the kind of security that can be had and the terms under which the same is available.

The important pointers that you must keep in mind while comparing and purchasing an online term insurance plan are as follows:

  1. The range of overall coverage and the complete overview of the plan
  2. Whether the return-of-premium option is included in the clause i.e. the whole facet of any maturity benefits
  3. Allocation of the sum assured towards the benefit of the nominee(s)
  4. The available riders or extra benefit options, in addition to the main plan benefits.
  5. The payable premiums.

Buy Term Insurance Online

Reasons to Buy Term Insurance Plans Online

Here's a look at just some reasons why you should buy a term insurance plan online:

  1. Lower Premiums

    Term plans are popular as they are more affordable than other life insurance policies. When you buy a plan online, you could be rewarded with discounts, allowing you to save more on your premium payment. Online plans tend to be cheaper as they cut out any middle-men, so there is no commission or other payment required.

  2. Easy Comparisons

    Before purchasing a policy, we're sure you take a lot of time to do your research and find the ideal plan for your needs. When you opt to buy a term insurance plan online, you can quickly compare the costs and benefits of various plans. This makes it easier for you to make a quick decision regarding the plan that is best suited for you.

  3. Speedy and Safe

    The best part about purchasing a term plan online is that you can make your payment and receive your policy within just a few moments. Making purchases online via our website is completely safe and secure, so you don't have to worry about your data or payment details being stolen, lost or shared.

HDFC Life offers various term insurance plans that are meant to act as a futuristic platform for the financial security of your loved ones and that have been designed to keep your financial reserves safeguarded at all times. For details, click on the mentioned link: https://www.hdfclife.com/term-insurance-plans.

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Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

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Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.