Pros and Cons of buying online insurance

The pros and cons of buying online insurance are important if you are planning to purchase your insurance policy online. Buying online is becoming very popular with the increase in internet users.

Today, all insurance products, be it health, car, travel and life cover, all are available on internet and can be purchased through the click of the mouse. Compare to a traditional route you have less problems in buying online insurance but it’s always better to know the pros and cons before buying.

Pros and Cons of buying online insurance

 

Pros of buying online insurance

First best thing is that you can buy insurance anytime that is most convenient to you. Because of busy lifestyle we have seen many people are not able to purchase insurance plans but with the introduction of online option it has become very convenient to buy all hours of the day.

While buying if you have any difficulties in understanding then online customer care is a great help. You can ask any questions that you might have and then proceed in buying. FAQ sections and other blog articles are also a great source of collecting information.

In traditional route of buying insurance policies, there always use to be a middle man who gets commission based on your policy value. If you purchase your plan online then these agents are skipped by which you save money.

Cons of buying online insurance

While buying online you needs to be an insurance experts and agents will not be available to suggest you something based on your requirements. You need to find out all type of information to get a clear picture of the policy and its benefits. Even though it’s a disadvantage but we suggest you to spend more time on it as you will be investing your money for a long time.

In India we have seen insurance agents helping in filling client’s claim. In case of buying online insurance policy, you need to file your own claim.

Buying insurance online is a good option but not for everyone. So we suggest you to know the pros and cons before purchasing insurance online. Some websites are also offering policy comparison. You can use that facility to know which one will be more beneficial to you.

The trend of purchasing online insurance policies is slowly and steadily growing in India. As the internet penetrates further, we believe that consumer in future will resort to purchasing insurance policies online.

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