Why should you purchase Online Term Insurance Plan?

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Why should you purchase Online Term Insurance
Plan?
BimaKaro.in
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online term insurance plan.

• Is insurance a blessing or disguise? Is it an
  investment to safeguard or just contributions in
  a black hole? Some of you would have experienced
  reality, and others would still be carrying the
  burden of doubts. But what is the fact? You
  should assess, contemplate, and then believe.
• Insurance plays different acts in your life, like
  health insurance, life insurance, motor
  insurance, travel insurance, children insurance,
  money back insurance, homeowner insurance, and
  many more.
• Insurance can play many other roles in your
  lives, but you may not be aware of them. But for
  the moment, let us consider the parts that you
  would know. For example, the role of health
  insurance. Have you heard someone around you
  getting medical bills reimbursed because of their
  health insurance? Let us take another example.
  Have you heard someone getting a full claim for
  complete damage to a car in an accident? I am
  sure you have heard of this.

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Continue..
You must be thinking by now. But let us keep
going. Another example is a little uncommon, but
you may have heard it. Someone lost his baggage,
and the airline pronounces it as lost. The person
had travel insurance with luggage covered. He
filed a claim, and he got the claim! There are
numerous examples where the insurance has proved
its worth but not sure, why term life
insurance still struggles with the trust issues?
Many people do not buy it thinking that their
family would not get claim proceeds. Others feel
that they will outlive the tenure and will end up
wasting their money. You seriously need to
rethink points related to term insurance, and if
you do not have term insurance yet, you must make
an effort to learn about it to conclude the
purchase.  
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IRDAI
In recent years, the Insurance Regulatory and
Development Authority of India (IRDAI) has taken
many initiatives to increase consumer awareness
for term life insurance to ensure that people
safeguard themselves. A new generation has also
evolved in the term insurance selling process,
which is buying online term insurance plan,
making the complete buying process transparent.
You can simply log on to the online insurance
aggregator portals like www.Bimakaro.in and
compare the products as per your eligibility
criteria. Everything is so easy and fast. You can
research and buy online term insurance plan in a
matter of minutes. In this post, you will go
through all relevant information on term
insurance to evaluate if it is a decision worth
taking or is good to avoid it altogether.
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What is term insurance?
Term insurance, as the name suggests, is for a
specified term. It is pure life insurance that
you can buy to cover your life so that your
family is financially protected after you. It is
comparatively less expensive as compared to other
insurance products. Therefore, if you trust term
life insurance as one of your security
companions, it can add little peace to your mind.
If you have apprehensions about money getting
wasted, you can choose one of the sub-products
within the term insurance domain to provide your
premiums back at the end of the policy
tenure. Below are the types of term insurance
plans Term plan with return of premium (TROP)
You get a refund of premiums at the end of the
term. Increasing term plan Cover increases every
year with the increasing age. Decreasing term
plan Cover decreases every year with the growing
age. Convertible term plan You can convert it to
another plan like endowment after a few years of
contribution. Level term plan This is a basic
term plan. Premium and sum assured remains fixed
for the entire tenure.
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Buy Term Insurance online?

•  Term insurance product is an essential life
  insurance plan and has been available for buying
  for many years now. This pure life product was
  earlier available at offline Point of Sales or
  through traditional agents. However, now the
  advanced world has alternative and easy options
  for buying. This option is purchasing online term
  insurance plan through insurance aggregators or
  online portals of the insurers.
• The most significant difference between the
  offline and the online model is complete
  transparency. The days are gone when you had to
  depend on an agent to give you information on
  your insurance plan. Now complete information is
  available for your reference at a click of the
  button. Simply log on to online insurance
  aggregators like www.bimakaro.in and enter
  necessary details like name, date of birth,
  gender, income and compare the term plans. Also,
  information is available on the internet or web
  portals to make the right decision.

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benefit of buying online?

• There are several benefits of buying a policy
  online. Complete transparency is one of the gifts
  as detailed above, but there are other benefits
  well. First and foremost is that purchasing an
  online term insurance plan is pocket friendly. If
  you buy a policy online, the insurer saves a lot
  of administrative and paperwork costs. Part of
  this benefit is transferred to the customer.
• You must also consider that premium of basic term
  plans is fixed at the beginning of tenure, and
  these premiums remain unchanged till the end of
  tenure. Considering the term plan is for the long
  term, you will save a lot of money on premium
  cost.
• Another benefit of buying an online term
  insurance plan is that you do not have to wait
  for an agent to fix an appointment with you. You
  can buy a policy at your convenience. If you need
  human assistance while purchasing an online term
  insurance plan, you can simply contact the
  insurer or insurance aggregators call center.
  They will guide you through the complete process
  of your online journey and will explain to you
  all the necessary details like claim settlement
  ratio, solvency ratio, etc.
• Furthermore, the process of buying an online term
  insurance plan is not as cumbersome as offline.
  You are not required to arrange physical
  paperwork. Alternatively, you need to submit your
  KYC and income documents online. Sometime insurer
  demands medical tests but even for that insurers
  arrange tests at your home or a centre of your
  choice.

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Conclusion
Online term insurance plans come with a host of
benefits. As explained above, it is time to give
equal importance to term insurance, as we give to
health, motor, travel, or any other insurance
form. Concerns related to trust and transparency
are now addressed with the help of online
insurance aggregators like BimaKaro.in If you are
considering buying online term insurance plan, do
not procrastinate. Just log on to www.BimaKaro.in 
now.