Life insurance is a rapidly growing sector in India, especially after the Government allowed privatization in this field. Insuring your life is simply making a contract between you (Policy holder) and an Insurance company (Insurer) which offers a sum of money on the occurrence of a certain event. The various types of insurance policies available in India are Term Insurance, Endowment Plans, Money back Policy, Unit Linked Insurance Plan and Whole Life Policy. They are designed to provide solutions for different needs in an individual's life including Health, Protection, Retirement, Savings & Investment, Vehicle and Travel.
Term Insurance is the simplest and least expensive type of life insurance. It is the insurance coverage given to an individual for a specified period of time and at a fixed rate of payments.
Why Getting Insured Early Is Important
For youngsters, in the midst of so many immediate and on the go financial requirements, it’s hard to even think about saving money for the future. Investing in buying term life insurance can help them to build a more financially sound base for their future.
Youngsters who consider life insurance as an investment, must think upon the strategy, “Buy term and invest the difference” which is a concept that is going strong in the financial world. If you qualify under the norms of the company, you can even avail very high sums assured which can be a financial foundation of your life. Moreover, buying life insurance at a younger age can save you a substantial sum of money. Earliest is the best, even if you don’t think you need it yet. Since the insurance premiums are considerably lower at younger age, the earlier you buy, the less you will pay, and the more you will save.
Benefits of Buying Policies Online
Now Insurance Plans can be bought directly from the companies through their websites. As the purchase and payments are done online, the whole process is easy and convenient for you. Since policies purchased online have certain benefits over those bought through traditional offline channels, online Insurance space is gaining fast momentum. It can be done as easily as buying clothes or an air ticket online.
Benefits:
- Easy, convenient and fast.
- Lower premium rates (Due to the negligible operational costs and absence of intermediary commissions).
- Ease of access.
- Easy documentation process.
- Can avoid mis-selling (As you are dealing directly with the insurance company).
HDFC Life (one of the leading life insurance companies in India) offers a range of individual and group insurance solutions for people who wish to get insured. Their solutions meet various customer needs such as Protection, Health, Pension, Savings & Investment along with Children’s & Women’s Plan.
Pros:
1. Wide range of plans: They offer a wide range of plans covering almost every crucial needs in a person’s life.
2. Assisted buying: Customer supports like online chat, call and co-browsing are available for HDFC insurance plans. Co-browsing gives access of your screen to the customer care executive who fills the form on your behalf.
3. Post Sales support: They provide excellent post sale support including Policy Tracker and Policy Servicing (paying premiums, managing funds, making a claim etc.).
It’s all available online in a click. #YehBhiOnline. Company also provides an Online Premium Calculator on their website to easily calculate the premium amounts and other related datas.
Insuring Life is something crucial you have to think about and buying policies online with HDFC Life Click to Insure is more customer friendly than any other such Online Insurance providers.