a) Lots of Options- Whilst the offline search for insurance policies may seem convincing enough, you aren’t actually seeing the whole picture. It’s not your fault- legwork can be daunting, and you cannot convincingly check out all the available options in a defined period of time. Thus, checking out all the available options (inclusive of the pros and cons, terms and conditions, qualification factors and peer reviews) online makes for a very sensible choice.
b) Avoid the Mind Games- When dealing with an insurance agent; you are forced to match with a fellow human being who isn’t an impartial authority with regards to what suits your condition the best. He is a salesman who is trying to sell you a product, and all the marketing tricks are in play. Thankfully, this isn’t a problem when buying insurance policy online. In light of all the information before you, an informed and accurate decision can be made instantly.
c) Buying Online is Cheaper- Insurance companies prefer it if you buy their insurance policies and/or pay your premiums online. This is because the said companies don’t have to pay the agents any hefty commissions and the commonly incurred costs pertaining to sales, documentation and other facets of the policy are saved. Thus, the costs are kept low and all the benefits reaped are passed onto the customer. It is a win-win situation for both the insurance company and the customer.
d) Discounts and Offers- To encourage people to purchase insurance policies online, insurers, in collaboration with partners, offer lucrative discounts and offers. For instance, some credit cards companies as the ones offered by Citibank and Standard Chartered Bank offer 5% cash-back to their cherished customers as and when they affect a credit card transaction. Why not use this facility to pay your insurance premium and avail a sizable profit?
e) Its Faster, Safer and Simpler- Obviously, running a rat race to find the best insurance plan versus checking out the ‘one’ online are poles apart in terms of the time, energy and patience involved. Plus, insurers ensure that when it comes to safety, financial transactions on their websites are akin to the online equivalent of Fort Knox. Plus, procedures are so simple, even a child could complete them all (not a recommended proposition though).
Hence, buying the insurance policy online is totally worth it when compared to buying from the traditional sources. In this modern age of internet, fast connectivity and banking’s enhanced presence online, choosing the slower option could be considered a costly mistake