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Online Insurance Policy: Here Are The Benefits

Written by : Info Box Team
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Many wish to invest in insurance to provide financial security to the dependents in the event of their demise but fail to do so due to the lack of time to contact the insurance agent/providers. With the raise of internet these days, most insurance companies are offering their products online. Here, we've listed a few benefits that one can get by purchasing insurance policies online.

Time Flexibility

To search policies offline, people needs to contact various insurance providers and have to wait in queues until their turn arrives to know the premium rates of policies. In case of e-insurance, there are many websites that can help us finding the best insurance policy that offers more benefits in terms of premium rates, previous claims and discounts.

Cost Effective

Purchasing an online insurance saves you from the additional payments/commissions paid towards the agents/mediators. Most insurance companies/insurers are offering insurance policies online at cheaper rates when compared to offline because online policies reduce the paperwork and intermediaries in between insurers and customers. In addition, some banks and third party websites are providing additional benefits in terms of discounts/vouchers for the purchases/payments people make through their websites/apps.

Convenience

Unlike the traditional ways in which insurers assist the insured in their office hours while buying insurance policies, online insurance policies offer 24×7 assistance that includes accepting premium payments, answering queries through their official websites/mobile-based apps.

Digitalised Documentation

The days where protecting policy documents (including premium payment receipts, nominee form, terms and conditions form, etc.) from getting damaged or replacing the damaged documents by convincing the insurer are over. E-insurance allows the users/insured to use/assess their personalised accounts in the insurer's website 24x7, where all the policy related documents are digitally stored.

Most e-insurance providers/insurers allow their customers to apply claims through online which helps the insured or their dependants in hassle-free claims.

(Image Courtesy: Shutterstock)

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