Источник The Hindu Business Line.com, Chennai, India
Заголовок Insurance Query: Buying term insurance online
Дата 20240920

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Insurance• Страхование Query: Buying term insurance• Страхование online

Insurance• Страхование Query: Buying term insurance• Страхование online

Updated - September 20, 2024 at 09:29 PM.

The choice between offline and online methods should be based on your comfort
level, needs and preference for personalised guidance versus self-service

By Akshay Dhand

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Are there any risks associated with buying term insurance• Страхование online, and how can
I protect myself? What are the key benefits and drawbacks of this approach
compared with traditional methods?

Term insurance• Страхование is an essential product that one should ideally buy as soon as
they start working.

Let’s address the question of how to purchase term insurance• Страхование— online or
through traditional channels. Before you purchase, you should research and
compare plans based on premium, features, riders and claim settlement ratio.
You should also do your own independent assessment of the insurers’ customer
service
and claims process.

A crucial part of purchasing a life insurance policy, particularly a term
insurance policy, is the process associated with buying the policy. This
involves completing an application form that includes questions about your
health and financial status, submitting relevant documents, and possibly
undergoing medical tests. It is extremely important to complete each step
thoroughly, as this information will be used by the insurer• Страхование » Страховщик to determine the
terms and conditions of the coverage. It will also be reviewed in the event of
a claim, and any inconsistencies could delay or complicate the claims process.

Most insurers offer easy online processes. You can fill in your personal
details, choose your plan and pay the premium. When purchasing the policy
online, the customer is responsible for completing the application process
independently, which may increase the risk• Страхование » Риск of errors. While online help is
available through the insurer• Страхование » Страховщик’s contact centre, it may be limited. Therefore,
it’s advisable to seek assistance• Страхование » Ассистанс from knowledgeable friends or family members
when completing an online purchase of term insurance• Страхование. Also, at the time of
claim, the claimant will have to directly reach out to the insurer• Страхование » Страховщик for
assistance• Страхование » Ассистанс. Information on claims process is easily accessible on insurers’
websites.

The alternate way to purchase is to consult an agent, bank representative or
employee of the insurer• Страхование » Страховщик who can assist you in making an informed choice during
the purchase. They can assist you through each step of the process, given
their familiarity with it. Having an agent or bank representative’s support
can help you in situation if the case is complex because of medical history or
high-risk• Страхование » Риск factors including occupational risks etc. They are skilled in proper
documentation and assisting customers throughout the application process. In
case of an eventual claim, the person who sold you the policy can assist the
family in ensuring faster and smoother handling of paperwork and follow-ups.

The choice between offline and online methods should be based on your comfort
level, needs and preference for personalised guidance versus self-service.

The writer is Appointed Actuary, Canara HSBC Life Insurance• Страхование

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Published on September 20, 2024

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