Life Insurance

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Buy Life Insurance Online
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Introduction
When you buy a life insurance online, you are
getting in touch with a company, as opposed to
connecting with an individual. While the latter
can retract his claims later on, the former
cannot risk doing so considering what's at stake.
Also, the chance of being sold a policy that you
do not require is low in case of online
insurance, given that consumers tend to do their
own research. 
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Reasons why purchasing online insurance plans is
a smart choice
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Cost

• The online mode of availing life insurance is a
  lot more economical than offline.
• Most online term life insurance plans are cheaper
  by a whopping 50-70 - sometimes even more, when
  compared to their offline equivalents.
• This is firstly because there are no
  intermediaries and one directly deals with the
  insurance company, eliminating intermediary
  costs.
• Secondly, most insurance companies work on the
  belief that the mortality risk is lower in case
  of customers who purchase policies online, in
  contrast to those who buy policies offline. 
• Hence, they offer comparatively lower premiums in
  the online mode. Online policies therefore work
  out cheaper - one can get a higher cover for a
  lower premium and unnecessary costs are done away
  with.

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Sum Assured

• On an average, the total sum assured tends to be
  higher in online term insurance policies,
  primarily because of the overall lower costs
  involved.
• It can also be attributed to tactful marketing
  strategies of insurance companies, who promise
  surprisingly low per day/per month costs for an
  online insurance policy.
• It is likely for one to see attractive
  advertisements claiming how an insurance policy
  worth several lakhs or even crores comes at a
  nominal per day or per month premium.
• In addition, for online policies, medical tests
  are not always mandatory. Insurers insist on
  medical tests only if the sum assured exceeds a
  specified amount, usually over INR 50 lakhs and
  above.