Due to the emergence of E-commerce, the driving need to purchase financial products online has significantly increased. To keep up with the advent of technology, insurance companies have evolved with the introduction of electronic transactions. Due to the public acceptance of motor insurance and health plans online, the insurance companies went a notch higher and made ULIP plans available online. Apart from its usual benefits, the availability of online ULIPs has ignited the curiosity of a majority of investors.
While a maximum number of investors strongly believe in traditional method of investing in ULIPs, they remain unaware of the easy access to online route for investment in ULIPs. In case you’re wondering about the benefits of buying a ULIP plan online, keep reading:
What are Online ULIPs?
Due to the growing demands of a ULIP Policy, life insurance companies present their policyholders with ULIPs, both online as well as offline. While offline availability exists and can be availed through direct walk-ins or by consulting a financial advisor, getting an online ULIP Policy is technically the best solution for saving time and efforts. For a hassle-free process of either purchase or renewal, online ULIPs have emerged as one of the most preferred options.
Before opting for an online ULIP Policy, an investor must know the process of how to purchase a policy directly from the website. Go through the following steps mentioned below to buy a ULIP Policy from the online portal.
Step 1: Log in to the website of life insurance company from where you want to buy the insurance policy.
Step 2: Select a product that would help you achieve your Life Goals and Fill in the personal details or information.
Step 3: Pay online via payment modes available by with the life insurance provider chosen by you and upload soft copy of necessary documents.
Post the introduction of ULIPs online, tons of investors prefer to invest in these online ULIPs. This is because an online investment is generally cheaper and more convenient as compared to making an offline purchase.
Here a few reasons mentioned below to make the most of an investment in online ULIPs:
Why invest in Online ULIPs?
When you buy a ULIP Policy online, you’ll eventually come to understand that the costs involved are lower. The reason why online ULIPs are cheaper than offline ULIPs is because of no involvement of intermediaries, hence the larger portion of the premium is allocated to the funds selected.
2. Saves Time
You can purchase your ULIP plan while relaxing at home by just logging in to the life insurance provider’s website. It will just take a few clicks to plan for your life goals.
If you are making a purchase online, there is no paperwork that is involved. You just need to visit the life insurance provider’s website and can buy a ULIP plan online directly.
4. Suits your needs
While purchasing a ULIP plan online, the decision to purchase is made as per your needs after the intense research you would have done online.
Since tons of investors are becoming more and more conscious about their investment goals, investment in an online ULIP Plan proves beneficial in the long run. Consumers today are turning towards the internet for almost anything and everything, online ULIPs are considered as a preferred product to plan for your life goals.