• 18 NOV 2016

    Step-By-Step Guide on How to Buy Term Insurance Online

    Buying life insurance online is different than let's say, buying a gadget or booking a service, but is easy nevertheless. Follow the below steps to buy term life insurance online.

    Step 1 – Research

    Type the words 'online term insurance' in a search engine like Google. It will throw up a lot of options. Go through the options. You will find various need analysis calculators which will help you compute the financial value of the resources required to fulfil your needs. Go through various calculators and find out how much should be your Sum Assured and term for the policy. The term would depend on till what age do you want to stay covered. Some plans like Edelweiss Tokio Life – MyLife+ cover you till the age of 80.

    Step 2 – Window shopping

    Yes! You heard it right. Get a term life insurance quote from various life insurers and compare them by opening them in different windows on the same browser. Just kidding! But a comparison is something that you must do so that you get the best deal.

    Step 3 – Decide on insurer

    Let's say you have identified a couple of insurers on the basis of their cost. Try getting a fair idea of how they are faring in terms of claim settlements, reputation in the market, financial profile etc before deciding. It's better to be safe than sorry! You don't want your family members to be hassled when making a claim.

    Step 4 – Make an online payment

    After you generate a quote, you will be asked to make a payment, which you can make using your credit/debit card or net banking. You can save the quote and refer to it later when you want to make the payment. Once you make the payment, you will be asked to fill the application form online. You can select the date and time at which you want the medicals to be conducted at your residence or office.

    Step 5 – Submit the documents

    Submit the documents like age, address and income proof online by scanning the documents and mailing it. Alternately, you may click a snap of the documents with your phone and upload it through WhatsApp. That's it! Once the underwriting process is complete, you will receive your policy bond by post. Neat and simple. Isn't it? At each step of the buying process, you'll be assisted over the phone or through a chat window by an agent. You may also choose to complete the process unassisted if it suits you.

    Conclusion

    Buy term life insurance online. It is cheaper and more convenient.

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  • 13 OCT. 2017

    Get a Comprehensive Life Insurance Plan for Your Family this Diwali

    While tangible gifts form an important part of the rituals between parents and children for the festive season, some intangible gifts hold a deeper value.

    read more

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