subject: Take Basic Precautions Before Buying Life Insurance Online [print this page] Buying Insurance online is one of the simplest things one can do. All you have to do is to get online, go to the insurer website and check what kinds of policies they offer online. Fill in a few basic details and they will give you a premium quote almost instantly. With youth constituting a large part of the population, they have taken to buying life insurance online. For them buying an online insurance policy makes sense as these policies are substantially cheaper than regular policies. They also do not have to deal with a pesky insurance agent and most of the transactions are done without having to go to an office and stand in a line. The online mode of transaction simplifies things and ensures that the usual hassles of buying a policy and paying a premium are now done at the click of a button.
However in the rush to buy a cheap online insurance one should not forget to keep certain facts in mind while shopping for insurance online. While searching for life insurance online, do not reveal too many personal details. Most legitimate insurance websites will only ask for your age and some other basic questions. In fact some website will not even ask for an email and display the premium quote directly.
Use third party insurance review websites. Rather than only looking at an insurer websites, its a good idea to also look at third party insurance websites which rate policies and give you a clear idea about an insurance policy and its features. When considering a policy online, read the fine print very closely as this is important and will tell you how the policy is structured and what features it has.
Remember that while the policies offered online are cheap, they are pre-set. Hence buying a term insurance with an accident benefit rider or critical illness rider may not be possible. In case you are not financially savvy, its also a good idea to speak to a certified financial planner who can help you plan your investments and also recommend a particular policy for you to buy. While filling in the form to buy insurance online, fill all the sections as truthfully as possible. This is necessary as if the information is untrue then the premium quote you receive will be wrong. If any such suppression of information comes to light later, your policy could be cancelled.
While transacting online its a good idea for the customers to check for the insurance companys website security certificate (SSL). This certificate verifies that the site is legitimate and adheres to the safety protocols required to transact business online. Another thing you can do is to take a screenshot of the transaction page which shows that you have made the payment. This is proof which you can use in case of any issue about payment.
by: Gunjan shastri
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