Pros and Cons of Online and Offline Term Insurance

Online and Offline Term Insurance

Life and property come across as those two imperative elements that each of us highly cherish. However, in order to be able to take pleasure in our life and property it is essential that we keep these shielded from the various contingencies and risks that are likely to strike them. The best approach towards this requisite is to get your life and property insured in time.

One of the insurance policies that is in vogue in recent times is the term insurance policy. In a layman’s language the term insurance policy can be easily interpreted as that insurance policy is which the policyholder is offered coverage for the fixed rate of payments that he or she makes for a specified period of time. Beyond this particular predetermined period the insurance company is no more liable to provide cover to the policyholder and thus it is advisable for the policyholder to opt for some other alternatives.

In the good old days, the only medium of opting for a term insurance policy was the offline mode. However, with the passage of time and the advancement of technology a new concept of online term insurance has been introduced. Like every model has its merits and demerits so does online and offline term insurance have. At a very basic level offline term insurance refers to that medium of initiating a transaction in which there is hardly any interference of the electronic media. On the other hand, online term insurance is nothing, but taking forward of an insurance deal with the sole help of the electronic medium. Hence, we can safely state that online and offline term insurance policies happen to be the two extremes of the same string.

The world today is moving at a very rapid and swift rate. It is the period of multitasking wherein every minute tends to hold utmost importance in each of our lives. Hence, from the point of view of saving time online term insurance wins a number of votes as compared to offline term insurance. This is because in case of online term insurance you are only a few clicks away before getting yourself insured. However, in case of offline term insurance the process becomes highly lengthy and complex that eventually leads to you wasting a lot of your precious time.

All said and done, being a customer or in case of insurance a policyholder since a considerable amount of liquid cash is being directed to the policy it is essential that the customer gets the answers to all his or her questions. If you were to engage in an online transaction you get the opportunity of feeding in your queries and a good amount of time passes by till the reply finally reaches you. This is not the case as far as offline term insurance is concerned since every doubt of yours is instantly cleared.

In addition, with respect to the online term insurance you as a client get a chance to enjoy cost benefit as far as the premiums are concerned. However, a contrasting opinion states that insurance being a sub category under the service sector most of the people take into consideration the quality of people with the insurance company before shortlisting on the firm as well as policy. For all those people for whom this condition acts as a prerequisite, it is hands up for offline term insurance. Since offline term insurance happens to be an age-old concept the number of people acquainted with this phenomenon is fairly large. However, since the world citizens are now turning into netizens even online term insurance is catching pace.



---Sponsored Ads---


New Project

Should Insurance be used as an investment tool?

If we were to talk about the insurance sector and the policies at large, most of us would consider this nothing more than a discussion on risk management. Ever since the inception of this industry,…


No Picture

HDFC Life Pension Plus Policy Details

HDFC Life  Pension Plus Policy is a traditional participating pension plan ideal for individuals who seek to plan for their retirement. Get secure and stable returns on your invested corpus for post retirement income. Features…


icici-pru-easy-retirement-plan

ICICI Prudential – Easy Retirement Insurance Plan

We all wish to pursue a good life after the retirement. This we look forward to purchased such a pension plan which can help us spend a financially sound life even after we stop working….


Insurance-accident-cover

Accident cover – Why you should have one

It’s a fact that to cover the risk of death we have life insurance policy and to take care of the hospitalization expenses there is health insurance policy. Nearly all of us are familiar with…


Online and Offline Term Insurance

Pros and Cons of Online and Offline Term Insurance

Life and property come across as those two imperative elements that each of us highly cherish. However, in order to be able to take pleasure in our life and property it is essential that we…


New Project (1)

Pension Policy – Why you should invest very early?

In today’s date, Insurance has become a must have for each of us in order to keep our life and property protected from unforeseen risks. Due to the rise in the number of insurance service…


myths about buying Life Insurance

5 myths about buying Life Insurance in India

Insurance happens to be one of the leading service sectors as on date. You all must be very well aware of the basic classification that is obvious in the Insurance sector, which is none other…


Be the first to comment on "5 myths about buying Life Insurance in India"

Leave a comment