The internet has become such an integral component of our day-to-day lives today while managing to deeply burrow itself into our social fabric that we can’t envision a life without it. Rapid changes and innovations in the world of technology have allowed people to connect in ways which weren’t possible before. The growth in the Internet base in India is simply phenomenal. Statistics reveal that India has now jumped to number two in the world today in terms of internet users (Source: http://www.internetworldstats.com/top20.htm) which reflects the changing patterns of media consumption. Needless to say, digital connectivity is changing the lives of people all over the world. To further highlight this fact, as per the latest issue of Global Digital report, more than one in five of the world’s population shopped online in the past 30 days.

Until a few years back, life insurance was a product which was mainly bought offline but now owing to digital penetration, several customers are looking to buy life covers online. However, many of us are still skeptical when it comes to buying insurance plans online. This begs the question; when we can do everything from buying our groceries to paying our utility bills online, why is there so much apprehension when it comes to buying insurance online?

Buying Online: More than Just A Mere Convenience Without a doubt, buying insurance plans online is the way forward. With just a few clicks of a mouse, you can not only buy any policy from any corner of the world but has also made protecting your loved ones easier than ever. Let’s take a look at some of the many advantages of shopping for and comparing coverage options directly from the comfort of your own home.

1. Low Price

A lot of people are under the misconception that purchasing life insurance online is expensive. However, they couldn’t be further away from the truth. The truth of the matter is that availing life insurance online is not only economical but also hassle-free. Buying insurance online entails that you're buying directly from the insurance company itself which helps to bring down the premium amount thus making it easier on your pocket.

2. Well Informed Decision

Another benefit of buying online is that everything you need to know about the product in question is transparent. Online portals list out all the information you need systematically thus allowing customers to read through all the relevant information about various plans in detail. Furthermore, you have the added convenience of comparing between various plans thus helping you narrow down on one which best suits your interests.

3. More convenience

Buying insurance online hands the customer the convenience of buying insurance plans which is simply unmatchable. Additionally, the insurance premium is system generated which gets rid of any possibility of human error while also reducing the time taken to calculate premiums.

4. Transparency of Benefits When you purchase life insurance online, you have total control over how much coverage you wish to buy and when and where you wish to purchase it. Furthermore, because you enter all relevant personal information about yourself on your own, it greatly reduces the chances of any error. You also have the added convenience of discussing the policy and it's various features on online forums to get suggestions from existing policyholders and insurance experts.

AN Nov 20/17

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