back arrow Back

Online or Offline Term Insurance is Good!

reply Share
06 Jul, 2021 by  Samuel S

Hello Sir, I am planning to take term insurance, I have the following query


1)Will there a problem with the claim procedure If I take the policy online?


2) Maxlife person is saying there won't be a dedicated officer if you buy online


3) I am very confused to choose between Maxlife and Bajaj Allianz for increasing sum assured, Please help me to choose


4) Will there be an issue in the Bajaj settlement as they are saying 30 to 90 days


5) Is there a scope of improvement for Bajaj in the future, as I am interested in it for a low premium and a 10% increase yearly

like like
0
Term Life Insurance

2 Answer

Post
07 Jul, 2021

1. Not really. The only issue is that you do not hv a family friend agent in an online policy to act pro-actively. Your family members must be fimiliar about policy & also competent enough to deal. Though I pray they should not get this job to handle.

2. Yes he is right. You need to deal with the customer care executives - but not an issue.

3. If the terms / condition / features are same then go with the cost effective policy

4. Question not clear.

5. Check whether the policy has got the provision of increasing cover or not

like like
0
icon-comment 0 Comments
icon-reply Reply
07 Jul, 2021

Dear Samuel

Answers as desired

1. Insuramce is sold by many channels ,online is z channel of distribution . All policies have common claim process and there can not be a problem if you buy online .

2. Claim is a process and there is no system of dedicated officer . All claims are handled by same people irrespective of channel . These claim support team do not see the channel .

3. Buying insurance is more important than chhosing Max or Bajaj . Both are equally good and you can choose as per your choice .

4. Both companies have over 98 % claim settlememt and equal rating so choose as per the competency of your advisor .

5. Bajaj is highly respected .

Hope this suffice

like like
0
icon-comment 0 Comments
icon-reply Reply
Discover the best tips for insurance every week!
beshak logo

Beshak is your source for clear, research-backed information & analysis of insurance plans. Our sole focus is to help you make well-informed decisions on insurance. We don't sell or advertise insurance plans or companies.

facebook icontwitter iconlinkedin icon

Beshak is not regulated by the Insurance Regulatory and Development Authority of India (IRDAI) and does not have any alliance or association with any Insurance business. © Copyright 2021 Beshak Solutions Pvt. Ltd. All Rights Reserved.

Disclaimer: The content on the website is purely for information purposes for the public at large, and does not constitute personal financial advice for a specific individual reader.
If you are reading this, it means you love reading the fine print. Why not get paid for what you love doing - Join us by writing to info@beshak.org now 🙂