Life Insurances 217 views
If you are not sure which life insurance or term plan is suitable for your requirements, you can visit various online to do online window shopping. While doing online shopping you will get advantage to read more about the product it's advantages and disadvantages. Term insurance plans are more useful for those who don't want to shop for life insurance as the premiums are much higher. These term plans are much simple to understand and offer you higher risk cover by paying minimum amount. These are low-premium high cover protection plans, where the premium is used entirely for risk cover. But, these term plans do not offer any sum assured after the completion because there is no saving portion of the premiums.
Buying term plan online: Rather than buying the term plan from an agent, one may buy term plan directly from insurance companies by visiting their websites. The process of buying a term plan online is as simple as buying a mobile phone or plance order for food online. Here, you are supposed to fill some basic required information along with some documents to the company to buy the policy.
Pay less premium by purchasing online: Buying the term insurance plan online saves your time and money as well. If you buy the term plan online you are supposed to pay less money as compared to buying it offline or through an agent. It will also give you opprotunity to compare various products online and buy the most suited one. It also gives you opportunity compare these terms plans on different parameters to make the most calculated move.
Compare price difference: The annual premium for a term plan varies from company to company. There are some important factors which play vital role in deciding the premium age, sum assured, monthly income, term and gender. The price also varies if you buy it online or through agent. If you will buy the same policy online it might be you will end up paying less money as compared to buying it from aget or by visiting the bank or company itself.
Save the savings: If you are buying the term plan online you will save between 25% to 31% of the actual cost of premium. You can save that margin money into some other saving schemes and plans. Investing the same amount for 20 years or 30 years could help you in saving a huge amount over the years.
Use online tools: Most of the websites selling life insurance online have build a special tool to help the customers to determine the amount of coverage you need. The industry experst suggest that one should always buy a coverage of at least seven times of one's age, kid's expenses over the years and living standard of family. One should always review their premium after every five years. You may then top-it up with existing liabilities like home loan and any other loan.
Different features for online plans: Those who are buying online plans get more and different features than those who buy the plan offline or through some agent. These plans provide different features and riders to customers.