Buying online life insurance is really picking up amongst consumers today as people have come to realise how stress-free and absolutely convenient it is. Buying your policy online is a safe and practical thing to do, but there are a few rules you pointers to follow. You encounter a number of providers in the market when shopping for a life insurance in India; the variety is all the more crazy when you hit the online shopping world. Hence, there are a certain online shopping norms that you need to follow, only to ensure you shop for the right life insurance product.
Read about the provider thoroughly –
When opting for an online life insurance you need to be sure of the provider. On the online world you will come across a number of vendors for selling a life insurance policy, but it is important to determine the best amongst them. It is recommended to stick to well know providers and brands as they carry a lot of trust factor with them. Read the website of the provider and customer reviews provided by customers on the products they offer. This will help you decide the right provider to approach.
Compare policies –
Comparison is the first rule of any kind of shopping. Same is the case with online life insurance. As there are several providers and a huge range of products you can opt from, it is natural that buyers get confused. A simple means of reducing your confusion is by listing down the benefits you want your life insurance to provide and shortlist the policies that match your expectation. Next compare those policies for the benefits, premium cost, features and other aspects and zero in on one of them.
Check claim settlement record –
The most important moment for any policy holder is when the insurer settles the claim. This is the main benefit of the policy that the insured waits for. In case there are any discrepancies in the process, it leads to dissatisfaction amongst the consumers. Make sure the process does not involve a lot of paper work and long time frame for the handover of the sum assured. This will only add to the troubles of your family, when you are not around.
So these are a few rules that you need to follow when shopping for online life insurance in India. They ensure you end up buying the right product and make the most of all the benefits you want.
Three things you need to do when buying online life insuranc