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Is It Good To Buy a Life Insurance Policy Online?

Buying life insurance policies online can be a great option for those who are looking for convenience and ease. There are many benefits of buying a life insurance policy online and these include:

  • You can get quotes instantly
  • You can save time by doing it online
  • You can compare rates and policies from various companies
  • No need to visit the insurance company’s office.
  • Online policies are cheaper than those bought offline.
How many Term Insurance Plans can I Buy in India?

You can purchase two or more term insurance plans in India to fulfill your insurance requirements. go through our online portal PolicyBachat.

Why should I Buy a Term Policy?

Life is unstable and we need a backup plan to provide financial security to our family. In case of sudden demise, the family might face financial hardships due to the death of the earning member of the family. A term policy covers the children's education costs, clears the outstanding loans, and provides income to the family of the policyholder in case of the untimely demise of the insured.

When should I Buy a Term Policy?

There is no better time to buy a term life insurance policy. It is better now than never to purchase life insurance policy. Ideally one should purchase a term insurance policy immediately after starting a job. Early term insurance purchase results in lower premiums to be paid to the insurance companies. The term insurance premium depends on the age of the proposer and thereby increases with increase in age.

Are there any Age Limits for Buying a Term Policy?

Most of the insurance companies restrict the maximum entry age to buy a term insurance policy to 65 years. This is due the general practice that most of the people retire at the age band 60-65 and also would be free from all the financial obligations and liabilities, hence there would be no need to have a term insurance policy. The minimum entry age for a term insurance policy is 18 years while the maximum entry age is 65 years. Once the term policy is taken the term can be chosen by the proposer, the younger the proposer higher the term period.

What are the Benefits of Buying a Term Insurance Policy Online?

There are many benefits in buying a term insurance policy online. Few of them are listed below:-

  • Lesser premium - The premium to be paid is less in case of online term insurance plans when compared with the offline modes. This is due to the less administrative costs involved with online purchase.
  • Comparison – When purchasing online you can have many options to select from. The term insurance plans and premium from different companies would be displayed on the portal when you make a purchase online.
  • Save Time & Energy - Both time and energy can be saved by purchasing term insurance plan online. You can purchase the policy by sitting at your home and paying the premium online without requiring moving out of your comfort zone in most of the cases. These days most of the insurance companies are not stressing on physical medical tests as they are conducting telephonic tests which forms the health declaration of your proposal form.

Related Question

  • How Many Term Insurance Can I Buy In India
  • What is the best term life insurance to buy
  • Where to Buy Term Insurance
  • When is the Best Time to Buy Life Insurance
  • How to Buy Life Insurance

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