Benefits of Buying Online Insurance
PNB MetLife 21-12-2016 10:00:52 AM
Our world is becoming increasingly more digitized. With dissemination, this is the case more than ever before. As our country begins to embrace online payments, insurance companies have also now made it possible for you to buy a new policy with the click of a button from any corner of the world.Read More
In short, purchasing online insurance is a cheaper and easier route than purchasing your policy through an insurance distributer.
Cost Efficiency: Since the customer buys directly from the insurance company, the distributor’s commision is eliminated. Online sales also cut down on cost of agency, physical cost of branches and paper proposal forms. These savings are usually shared with the customer, allowing them to enjoy a lower premium when making an online insurance payment.
For instance, term plans currently have the highest demand in the life insurance industry. Term plans are typically low cost insurance plans that provide full protection and financial stability to your loved ones in case of any unforeseen events. Online term plans are typically the cheapest medium of availing life insurance, offering high coverage at a low premium cost.
Automated Servicing: A key difference between offline and online modes of payment is that through online insurance payment, the customer is able to become self-sufficient. Insurance companies offer product literature like brochures and policy wordings to educate the customer about their offerings. You can now also track your insurance investments online and easily make changes if need be.
Online Assistance: No longer do customers need to stand in long lines to ask questions about their insurance investments. Insurance company websites will now, more often than not, have a live chat facility where you can seek clarifications and ask questions. You can also usually set up a face-to-face meeting with a representative.
The future sees us moving towards faster and smarter online platforms to enable quicker and better personalized customer service. The time is now. Join the digital revolution and start making your insurance investments online.