How reliable is buying a plan online? What should I keep in mind before purchasing an online term insurance?
Karen Lobo, Mumbai
A basic term life insurance plan can have exactly the same benefits irrespective of the channel you buy it from. Buying an insurance plan online is safe. However, you need to be mindful of the features that you are opting for. Often, features are not understood before purchase. Considering the pure risk insurance that comes with term plans, it makes very easy to compare term plans. Premiums on online term plans are many a time lower than that of a similar cover policy if bought offline through an agent. Look for a term plan which is available till you turn 65 and do make all health related declarations when taking the policy to ensure no problem when your dependents may actually need to raise a claim on the policy.
