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The real value lies in the savings you make on premiums, the added features at no extra cost, and the convenience that comes with buying the policy online
Digital Desk: Protecting our family’s
financial future is not something we can avoid. Life is uncertain; therefore,
you should prepare to tackle unexpected or unpleasant scenarios. In this
context, having a reliable term insurance plan in place can make all the difference.
In addition to this, technological advancements in the industry have made the
process easier than ever before. For those looking to secure a high life cover
without stretching their budget too much, online term insurance has become an increasingly smart option.
At the same time, you can avail
of exclusive discounts and make your insurance purchase even happier. The real
value lies in the savings you make on premiums, the added features at no extra
cost, and the convenience that comes with buying the policy online. It is
advisable to evaluate all associated aspects to make an informed decision.
Before digital insurance
platforms came into being, buying term insurance was a slightly tedious task.
It involved long forms, waiting for appointments, and often, relying on an
agent for information. But now, things have changed.
You can check your premium
instantly using a calculator, fill in the required details, and even schedule a
video medical test, all from the comfort of your home. Online term insurance also provides access to a broader range of
customisation options compared to some offline policies.
Who Should Consider Online Term Plans?
Honestly, almost anyone should consider online plans. But online term insurance is especially suitable for:
● Young professionals who want to lock in low premiums early
● Parents planning for their children’s long-term security
● Home loan borrowers who want to ensure their family won’t be left with a financial burden
● Women professionals who are eligible for special savings on premiums with select plans
● NRIs looking for protection back home in India
Even if you’re someone who hasn’t thought much about insurance before, starting with an online term plan is a low-risk and high-impact financial step.
Look for Features That Add Value
While premium affordability matters, it’s equally important to check what you’re getting in return. A few term insurance benefits that can make a difference include:
● Cover continuance benefit: In case your income stops temporarily, some plans allow a pause on premium payments without ending the policy.
● Special benefits for salaried individuals and women: Certain plans offer reduced premium rates or extra riders without charging more.
● Waiver of Premium Plus Rider: If you're diagnosed with a serious illness or face a disability, all future premiums are waived off, and your policy stays active.
These features are handy if you’re thinking long term. And that’s what term insurance is really about: planning, not just for what’s likely but also for what’s unexpected.
What to Watch Out For Before You Apply
One mistake people often make is comparing only the premium. That’s a good starting point, but not the whole picture. A plan might seem more affordable, but it could lack flexibility or have limited rider options.
● Check the claim settlement ratio: It is one of the most important aspects to consider when buying an insurance policy. Premium insurers like Axis Max Life Insurance have consistently maintained over 99.65% claim settlement in recent years.
● Look at the fine print of add-ons: Not all riders cover the same list of illnesses or disabilities.
● Pay attention to the maximum age covered: Some plans offer protection till 85, which can be very helpful if you have long-term responsibilities.
● Check if there’s a return of premium option: This can be a good choice for people who want their premiums refunded if no claim is made.
Conclusion
In a world where we plan everything, from holidays, investments, and even weekend meals, there’s no reason life protection should be left to chance. Buying a policy online doesn’t just make sense in terms of savings. It makes things easy, fast, and gives you better control.
And if you’re exploring plans, you’ll find that premium insurers like Axis Max Life Insurance offer policies with a potent blend of high coverage, built-in riders, and a claim settlement ratio that speaks for itself.
Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms and conditions, please read the sales brochure/policy wording carefully before concluding a sale.
Disclaimer: The content on this page is generic and shared only for informational and explanatory purposes. It is based on several secondary sources on the internet and is subject to change. Please consult an expert before making any decisions related to this matter.
The tax benefit is subject to change according to the prevailing tax laws.
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