Why Purchase Term Insurance Policy Online?

Divya Nair

07 Nov 2016

With more and more people shifting their preference to online shopping for almost everything now, buying insurance products on the net is no exception. Widely known as E-insurance, online insurance plans are proving to be value for money products, with regard to both charges and premium. Of all the life insurance plans, buying a pure term insurance plan is the most cost-effective way.

If you are yet to purchase a term insurance plan, we give you top reasons to buy one ONLINE ASAP:

  • Cost-Efficient - When purchasing a term plan online, premiums are comparatively lower than that when you buy a plan offline due to the absence of insurance agents or any other intermediaries. Buying a plan online means a direct transaction between the buyer and the insurer. As a result, this saves on the commission and other operation costs.

  • Quick - Many insurance companies and financial services firms have launched advanced platforms to make online insurance shopping more convenient. 5paisainsurance has recently launched India’s first 100% automated insurance advisor. It takes every aspect of an individual from family details, income & expenses, current assets & liabilities, lifestyle, family health history, risk profile, existing insurance and future goals into consideration and provides a fully automated advice for insurance requirement in totality. With 5paisainsurance, all you need to do is spend just 5 minutes of your time and fill in your details in 3 easy steps.

  • Ease Of Choosing - Insurance portals allow online comparison of various plans. Also, such websites allow you to read online reviews of several insurance products. Therefore, making it easier for people to buy the term plan best aligned to their needs, with maximum benefits at affordable premiums.

  • Transparency - When you purchase a term plan online, you are informed almost about everything. Also when the details are filled and the form is submitted online, insurance shoppers get the necessary email or text message to track the current application status and receives guidance about the next course of action.

  • No Mis-Selling - The traditional way of buying life insurance policies involved lengthy paperwork and blind trust on insurance agents. The online process is a do-it-yourself (DIY) concept with no agents involved. Online buying lets insurance seekers fill up simple and only relevant online forms , thus minimising mis-selling.

  • Less Formalities - For online policies, medical tests are not always mandatory. People are asked to go for medical tests only if the sum assured exceeds a specified amount, usually over 50 lakhs and above.

Conclusion - These factors possibly have made you think why buying a term plan online scores over the traditional way of purchasing a plan through an insurance agent. However, it is upto the customer what product he/she thinks fits his/her financial plan perfectly after a careful research.

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    This article claims RJio was given a "Backdoor Entry" into the 4G Based Voice Routing. The peculiar aspect is without the Voice License, Rjio would have been a mere ISP. With the license, it is now a holistic communications service provider, with ability to exponentially scale the bouquet of products. The events indicate it was meticulously planned way before the auctions because the auctions were clear on the agenda: 4G for internet only.

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mutual-fund

Why to Choose Mutual Funds Instead of Directly Investing Into Equities?

Whether to invest in equities or mutual funds is a question that has plagued every investor. As someone who needs the best value for his/her investment should you invest in equity directly or via mutual funds?

Let’s start by first understanding what these two terms ‘equities’ and ‘mutual funds’ stand for-

Equities- Equities generally represent ownership of a company. If you own any equity in a company, you are a part owner of the said company (depending on how much equity you own).

Mutual Funds – It is an investment scheme which is professionally managed by an asset management company. It pools together the resources of a group of people and invests their money in equities, debentures, bonds and other securities.

Why choose mutual funds over equities?

For people who’ve never invested in either stocks or mutual funds, it is hard to know which is better and where to start. Broadly speaking, if you are a novice investor, mutual funds are not only less risky but also way easier to manage. Here are some ways in which investing in mutual funds is beneficial as opposed to investing in equities -

Diversification

Mutual funds provide more diversification as compared to an individual equity stock. When you invest in equity, you are investing in a single company which has its inherent risk. For example, if you invest Rs.20,000 in buying equities of one company, you could face a total loss if that particular company performs poorly in the market.  

If you invest the same amount in mutual funds, it will be invested in different kinds of stocks and financial instruments, high-risk and low-risk both, so you might not face total loss even if one company does poorly.

Scale of Investment and Lower Costs

For an individual investor buying and selling stocks is a difficult task due to its high price. Thus, any gains made from stock appreciation are nullified if the overall trading costs are considered. Comparatively with mutual funds, as the money is pooled from a large number of investors, the cost per individual is lowered.  

Another advantage of mutual funds is that you don’t need to invest large sums of money. Buying equities for a profitable venture needs huge amounts of money, a minimum of few lakhs. With mutual funds, you can start with Rs.1000 and earn profits on that as well.

Convenience

Keeping an eye on the markets everyday is a time-consuming business, especially if you are investing as a side gig. There are people who spend their lives studying the market and still end up sustaining heavy losses. Though investing in mutual funds does not guarantee high returns, it is stress-free and needs less work as compared to investing in equities.

To sum it up

It is important to remember that mutual funds have their own disadvantages as well. Thus, as with any financial decision, educating yourself and understanding the suitability of all the available options is the ideal way to invest. 


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Why Purchase Term Insurance Policy Online?

Divya Nair

07 Nov 2016

With more and more people shifting their preference to online shopping for almost everything now, buying insurance products on the net is no exception. Widely known as E-insurance, online insurance plans are proving to be value for money products, with regard to both charges and premium. Of all the life insurance plans, buying a pure term insurance plan is the most cost-effective way.

If you are yet to purchase a term insurance plan, we give you top reasons to buy one ONLINE ASAP:

  • Cost-Efficient - When purchasing a term plan online, premiums are comparatively lower than that when you buy a plan offline due to the absence of insurance agents or any other intermediaries. Buying a plan online means a direct transaction between the buyer and the insurer. As a result, this saves on the commission and other operation costs.

  • Quick - Many insurance companies and financial services firms have launched advanced platforms to make online insurance shopping more convenient. 5paisainsurance has recently launched India’s first 100% automated insurance advisor. It takes every aspect of an individual from family details, income & expenses, current assets & liabilities, lifestyle, family health history, risk profile, existing insurance and future goals into consideration and provides a fully automated advice for insurance requirement in totality. With 5paisainsurance, all you need to do is spend just 5 minutes of your time and fill in your details in 3 easy steps.

  • Ease Of Choosing - Insurance portals allow online comparison of various plans. Also, such websites allow you to read online reviews of several insurance products. Therefore, making it easier for people to buy the term plan best aligned to their needs, with maximum benefits at affordable premiums.

  • Transparency - When you purchase a term plan online, you are informed almost about everything. Also when the details are filled and the form is submitted online, insurance shoppers get the necessary email or text message to track the current application status and receives guidance about the next course of action.

  • No Mis-Selling - The traditional way of buying life insurance policies involved lengthy paperwork and blind trust on insurance agents. The online process is a do-it-yourself (DIY) concept with no agents involved. Online buying lets insurance seekers fill up simple and only relevant online forms , thus minimising mis-selling.

  • Less Formalities - For online policies, medical tests are not always mandatory. People are asked to go for medical tests only if the sum assured exceeds a specified amount, usually over 50 lakhs and above.

Conclusion - These factors possibly have made you think why buying a term plan online scores over the traditional way of purchasing a plan through an insurance agent. However, it is upto the customer what product he/she thinks fits his/her financial plan perfectly after a careful research.