(Image Source: Shutterstock)
(Image Source: Shutterstock)

Insurance policies are great additions to a person’s financial repertoire, provided the most aligned scheme is selected after comparing multiple options. However, individuals still make the mistakes when it comes to purchasing insurance schemes as a majority of them still trust offline avenues for getting the job done. One must understand that if an individual tries to get insurance online, he or she will be bombarded with a wide range of options, regardless of the premium paying capabilities. Moreover, the entire process of purchasing policies online is hassle-free and takes lesser time as compared to some of the more important daily chores, as mentioned in the subsequent sections:

  1. Putting a Cell Phone to Charge

It usually takes around an hour and thirty minutes to charge a smartphone completely whereas comparing and even purchasing a policy online doesn’t even take a few minutes. This proves that online insurance purchases aren’t convoluted, and the process can be initiated seamlessly.

  1. Commuting to the Workplace

On an average, it takes around 50 minutes for an individual to reach the office, provided public transportation is used. However, in a similar timeframe, a person can easily surf and compare between multiple insurance quotations

  1. Grocery Shopping

While a 20-minute stint at the grocery store can sort majority of household chores for about a month, investing the same amount of time in selecting and purchasing an online term insurance plan can sort a person’s entire life with ease.

  1. Waiting for the Ordered Pizza

Those who have ordered pizza online would understand that it takes more or less thirty minutes for it to get delivered. Therefore, if spending thirty minutes for a pizza seems like a prudent decision, investing the same amount of time for comparing multiple insurance plans online would be even more appropriate.

What most people fail to understand is that regular errands like working out in the gym or even having dinner at a posh restaurant take more time than logging onto the internet and applying for an insurance policy. Put simply, a typical workout session takes somewhere between 45 minutes to 1 hour, but people fail to identify the most aligned online health insurance schemes which can actually benefit if the workout sessions don’t work. The misconceptions regarding the time taken for purchasing an online insurance plan has generated out of the fact that the offline processes are excruciatingly slow which eventually dampen the spirit of the applicants. This is why even the online plans are getting ignored.

However, toggling between the online insurance schemes, reading through the points, and eventually making the purchase by applying is an extremely seamless process and doesn’t even take more than 10 minutes. While the verifications in case of life and health insurances might take some time, the overall process is quick and extremely easy on the applicant.

Benefits of Purchasing Online Insurance Plans

There has to be a reason why we are evaluating the online purchase time of life insurance policies against some of the other common chores. The best reason is that purchasing policies online comes with a host of benefits which need to be discussed at the earliest:

  1. The Flexibility of Informed Choice

Unlike offline purchases, life insurance plans which are purchased online allow individuals to make informed choices by precisely facilitating comparisons. A person can visit the website of the insurer, read carefully about the terms and conditions, and eventually make decisions regarding the preferred policy.

  1. Cost-effective

Online purchases usually have lower premium rates as paperwork, and other convoluted aspects aren’t involved. Moreover, with middlemen presence being taken care of, it becomes easier for the insurer to offer a better set of perks, as compared to the offline schemes.

  1. Continued Assistance

In case of ambiguities arising out of offline insurance schemes, the middleman is the only link between the customer and insurer. However, online insurers, selling policies over select websites offer customized and automated interfaces that are capable of interacting with the customers and solving queries.

Concluding,

The aforementioned discussion clearly reveals the fact the insurance schemes are best purchased via online interfaces. Therefore, if we want to get insurance online, time isn’t the factor that needs to be considered. Instead, we must only be on the lookout for the best set of benefits, lower premium rates, and additional riders offered by insurers like Max Life Insurance and other, while zeroing in on a purchase.

Disclaimer: This article has been written by Anisha Arora and do not necessarily reflect the views of the Free Press Journal.

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