Getting Insurance Online is Simple, Easy and Even Cheaper!

Getting Insurance Online is Simple, Easy and Even Cheaper!

There are about 100 million internet users in India. Over a period of time it is becoming one of the most widely used mediums of communication. Many use internet for communication, many use to network, many people buy stuff online. Financial services these days are also offered online and it all started from a humble beginning in the banking sector with online transactions and account management. Now its moved to financial products being available online at a click. Insurance companies are also rapidly moving towards selling products (term plans) online. The India growth story for e-commerce is on a fast track.

 The market for e-commerce grew from 8,146 crore in 2007 to 46,520 crore in 2011. The main reason why e-commerce is picking up is because of competitive pricing which is a result of competition.

Buying an Insurance Policy Online:

 Buying insurance policy online is simple. One gets various benefits of buying an insurance policy online. You can compare various insurance policies and buy the one which best suites your needs. By comparing insurance policies across the companies you can get a clear picture of what’s the best available deal in the market for you. Time saving is again a benefit which an end consumer gets. Buying an insurance policy is also a hassle free process and is secure, hassle free as you don’t have to visit your insurance agent or your financial advisor. When you buy an insurance policy online there are clear instructions visible on the website which you need to follow. The servers where these websites are hosted are secure so you don’t need to worry about the transaction process.

Premiums are cheaper for online term plans:

 One of the biggest benefits of buying term plans online is that the premiums of online term plans are cheaper compared to the offline term plans. The main reason for this is that there are no middlemen or an agent’s involved when you buy insurance policy online. Also the quality of life insured is perceived to be better by the underwriters as you are opting for the policy yourself after doing your need analysis.

One of the negative parts of buying an online term plan is that customers may often unintentionally or to lower the premium, withhold any medical condition or other critical information that will result in complications or rejection of claims in future. It is advisable to disclose all the facts before hand to avoid unnecessary rejections.

 To sum it all buying insurance online is simple and hassle free and saves money too!




Insurance: A Guide

"Remember kids, I have life insurance" - Adam Savage

This is a guest article from Tatyana Levin

These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).

 The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.

A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed.  But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.

Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.

 These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason.  The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.

The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.

About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com