Getting Insurance Online is Simple, Easy and Even Cheaper!

The market for e-commerce grew from 8,146 crore in 2007 to 46,520 crore in 2011. The main reason why e-commerce is picking up is because of competitive pricing which is a result of competition.
Buying an Insurance Policy Online:
Buying insurance policy online is simple. One gets various benefits of buying an insurance policy online. You can compare various insurance policies and buy the one which best suites your needs. By comparing insurance policies across the companies you can get a clear picture of what’s the best available deal in the market for you. Time saving is again a benefit which an end consumer gets. Buying an insurance policy is also a hassle free process and is secure, hassle free as you don’t have to visit your insurance agent or your financial advisor. When you buy an insurance policy online there are clear instructions visible on the website which you need to follow. The servers where these websites are hosted are secure so you don’t need to worry about the transaction process.
Premiums are cheaper for online term plans:
One of the biggest benefits of buying term plans online is that the premiums of online term plans are cheaper compared to the offline term plans. The main reason for this is that there are no middlemen or an agent’s involved when you buy insurance policy online. Also the quality of life insured is perceived to be better by the underwriters as you are opting for the policy yourself after doing your need analysis.
One of the negative parts of buying an online term plan is that customers may often unintentionally or to lower the premium, withhold any medical condition or other critical information that will result in complications or rejection of claims in future. It is advisable to disclose all the facts before hand to avoid unnecessary rejections.
To sum it all buying insurance online is simple and hassle free and saves money too!
This is a guest post written for Aviva India.
Life Insurance:The Basics
This is a guest article by Life Insurance Quotes, UK
Do you feel as though you need a PhD in Economics to understand how to choose the right life insurance for you?
Get in line. Life insurance was once an easy purchase to make, and the
options you had were very simple and straightforward. Now, there are
thousands of different kinds of plans, and the sheer number of options
is simply mind boggling. Make sure you understand the basics of life
insurance before you select a plan so you don’t find yourself buying
blind.
Term vs. Whole Life Insurance
The first step to understanding life insurance involves grasping the difference between term and whole life insurance. Term life insurance is essentially an insurance product that you buy to cover yourself for a limited, defined period. The length of time varies based on your needs and the conditions of the policy. The term you choose could be as little as one year, but most term life policies last somewhere between 10 and 30 years.
On the other hand, whole life insurance is a life insurance policy that stays active throughout a person’s entire (hence, “whole”) life. In most cases, policyholders must pay their premiums for a whole life plan every year to keep the policy active. When you have a whole life insurance policy, it remains in effect until you reach a very old age if your policy specifies it. If not, the policy stays in effect until you die.
There are many other kinds of life insurance plans available if you are looking for more than just a death benefit. For example, a variable life insurance plan provides a death benefit, but it also offers a fund on the side that operates much like an investment account. There are other varieties of life insurance as well, but for the sake of sticking to the basics, term and whole life are the most important types you should understand.
Analyzing Your Life Insurance Needs
When you are deciding which life insurance product is right for you, the first step is to analyze your needs. This essentially means figuring out what the economic needs of your dependents will be once you have passed away. You should consider your current financial situation, and use it as a gauge to determine the standard of living you desire for your dependents after you’re gone. In addition, you should factor in any outstanding bills that you would leave behind, as well as any funeral costs your death would incur. When you are figuring up how much life insurance you should buy, imagine the amount your family would need if you died immediately. This is the best way to determine what your current life insurance needs are before you buy.
You should evaluate your life insurance policy periodically as well. Life changes quickly, and life events such as the loss of a job, divorce, the birth of a child, marriage, or even a major purchase such as a new home can all dramatically impact the amount of life insurance coverage you need. Many experts agree that re-evaluating your coverage at least once every five years – or whenever you experience one of these major life events – is the best rule of thumb. As you get older, you need for life insurance should decline significantly due to less people depending on you for financial support.
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Term vs. Whole Life Insurance
The first step to understanding life insurance involves grasping the difference between term and whole life insurance. Term life insurance is essentially an insurance product that you buy to cover yourself for a limited, defined period. The length of time varies based on your needs and the conditions of the policy. The term you choose could be as little as one year, but most term life policies last somewhere between 10 and 30 years.
On the other hand, whole life insurance is a life insurance policy that stays active throughout a person’s entire (hence, “whole”) life. In most cases, policyholders must pay their premiums for a whole life plan every year to keep the policy active. When you have a whole life insurance policy, it remains in effect until you reach a very old age if your policy specifies it. If not, the policy stays in effect until you die.
There are many other kinds of life insurance plans available if you are looking for more than just a death benefit. For example, a variable life insurance plan provides a death benefit, but it also offers a fund on the side that operates much like an investment account. There are other varieties of life insurance as well, but for the sake of sticking to the basics, term and whole life are the most important types you should understand.
Analyzing Your Life Insurance Needs
When you are deciding which life insurance product is right for you, the first step is to analyze your needs. This essentially means figuring out what the economic needs of your dependents will be once you have passed away. You should consider your current financial situation, and use it as a gauge to determine the standard of living you desire for your dependents after you’re gone. In addition, you should factor in any outstanding bills that you would leave behind, as well as any funeral costs your death would incur. When you are figuring up how much life insurance you should buy, imagine the amount your family would need if you died immediately. This is the best way to determine what your current life insurance needs are before you buy.
You should evaluate your life insurance policy periodically as well. Life changes quickly, and life events such as the loss of a job, divorce, the birth of a child, marriage, or even a major purchase such as a new home can all dramatically impact the amount of life insurance coverage you need. Many experts agree that re-evaluating your coverage at least once every five years – or whenever you experience one of these major life events – is the best rule of thumb. As you get older, you need for life insurance should decline significantly due to less people depending on you for financial support.
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