How Will You Buy Life Insurance Using Your Smartphones

With the boom in the usage of smartphones, online buying has acquired a new dimension. One that is not limited to time or place. Anybody with a smartphone can now buy his favourite t-shirt or sunglasses at a time and place of his convenience. If you are waiting at the airport to board the flight, you can browse through shopping portals and buy that book you always wanted. In such a scenario, can buying life insurance be something that needs you to be present at a certain time and place? Then, why should life insurance not be something that can be bought just at a buttons click?

How was life insurance bought earlier?

The main reason why people refrained from buying life insurance was the tedious process involved.

What’s changed?

Life insurance has gone online. You can access the life insurance portal through any terminal with an internet connection. You can also use your smartphones for logging onto the portal.

Step 1

Once you are logged in, you can browse through the various plans, select the one you like and generate a quote online.

Step 2

After generating a quote, you will be asked to make a payment, which can be made using your credit/debit card or net banking. You can save the quote and refer to as and when you like. Once you make the payment, you will be asked to fill the application form online. You can select the date and time for the medicals to be conducted.

Step 3

Submission of documents (age, address and income proof) can be done online. Another alternative would be to click a picture of the documents and upload it through whatsapp. That’s it! Once the underwriting process is complete, you will receive your policy bond by post.

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.

Step 4

The beauty of doing this on Edelweiss Tokio Life is that we offer a facility where in a user may key in his/her Aadhar number in order to lessen the number of fields he/she has to fill up in the online purchase form, thus making the process more convenient.

Conclusion

Buy life insurance online It is cheaper and more convenient.

Swati Tumar - Travel & Finance Writer   

Swati is a Writer in the day and an illustrator at night. Among her interests, she is quite fond of art and all things creative. She often indulges herself in creating doodles, illustrations, and other forms of content. She identifies herself as an avid traveler and shameless foodie.