Indian Money dot com Review on Pros and Cons of Buying Insurance Online

Sanjays
Sanjays
Jan 3 · 3 min read

Insurance basically means protection. It provides protection against the loss of an asset or human life. According to the IndianMoney review, insurance planning is an important part of financial planning. IndianMoney review says that, while buying insurance online has many advantages, it also has drawbacks.

With the advent of technology, things are not the same. Today, people use internet for everything, be it to find information or to make essential purchases. There are a number of things which can be done online, like buying groceries to insurance plans. Indian Money reviews say that people prefer doing most things online, rather than offline. Gone are the days where insurance policies were sold only by insurance agents. Many insurance companies sell insurance online and a lot of people prefer making the purchase, as it is cheaper when compared to purchasing insurance offline

IndianMoney dot com review says that, while buying insurance online has many advantages, it also has drawbacks. In this article, we will discuss the various pros and cons of buying insurance online.

What is an Insurance Plan?

Insurance basically means protection. It provides protection against the loss of an asset or human life. While home insurance provides protection against the structure of your home, term life insurance protects your family in case of an unexpected demise. According to the Indian Money review Bangalore, insurance planning is an important part of financial planning.

IndianMoney Review on Pros and Cons of Buying Insurance Online

Pros of Buying Insurance Online

Ease and convenience

You can buy insurance policies online at the convenience of home, office or even while traveling. Many insurance companies have chat bots which suggest insurance policies on the basis of needs.

All the details of the policy are documented and you will have enough time to go through and choose the best. In the case of online insurance, you will be filling in all personal information yourself. So, there will be fewer chances of errors.

To buy an insurance policy online, all you have to do is visit the official website of the insurance company, provide the required details and make payment, online.

Lower premium

Buying an insurance policy online can help save a lot of money as the premium of online insurance policies is low, when compared to policies bought offline. Usually, many insurance companies offer online policies at around 30–40% discount. This is mainly because in the case of online insurance, there are no intermediaries or agents between the insurance company and customers.

Cons of Buying Insurance Online

Difficulty in understanding the product

While buying an insurance policy online, most people may not completely understand the product as there will be certain terms which are not very clear. Due to this lack of transparency, many people end up buying the policy based only on the premiums and the insurance cover against the premium, ignoring various other clauses which are also very important.

Non-availability of personal services

While buying an insurance policy online, you will be directly interacting with the insurance company and there will be no agent to assist on claim settlement, filling up proposal form and so on.

Visit here for more

https://indianmoney.com/articles/indianmoney-review-on-pros-and-cons-of-buying-insurance-online

http://indianmoneydotcomreview.blogspot.com/

https://medium.com/@digitaldurga85/indian-money-company-reviews-indian-money-reviews-bangalore-1442c9da8dbd

http://indianmoneyreview.blogspot.com/

Sanjays

More From Medium

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade