Sunday, December 4, 2011

The Ups and Downs of Buying Life Insurance Online

Buying life insurance online has been the latest trend when it comes to means of procuring plans. This has made going the traditional way a thing of the past. Because of the developments in technology, the way of life of people has been changing. With this change comes the evolving of their needs as well. The insurance industry must keep up with this revolution in order to accommodate the demands of the market and keep the business lucrative. The automation of the procurement process has its advantages and disadvantages. This article will cover both in order to help you arrive a decision on whether to give this new thing a try or settle with old school


1 Convenient and private buying a policy over the internet is indeed convenient and private. There would be no pestering agent who is overly insistent in making you buy the plan even if you have made it clear that you do not want it. You wont be obligated to purchase it. If you think you are too shy to meet with people face-to-face, you ought to consider option. In addition, this alternative will not require you to exert efforts as you can do everything from home or anywhere else. You only need to make some clicks in order to approve the transaction

2 Saves you time and money -purchasing insurance life through the carriers websites will save you tons of time and money compared with buying them from storefront. Remember that it is highly possible to take you 6 weeks at the most to see if your application gets approved. This doesnt include frequent trips to the office to submit the essential documents. If you will do such things electronically, you will save as much as 70 percent including transportation expenses that you would incur. You could have used the money to pay the first premiums. Also, you can use the time for worthwhile things

3 Absence of medical examination at times there are plans that you can procure online that would not subject you to usually dreaded medical tests. A good example of this is instant term life. You would still be asked though with questions that pertains to your health background and of your familys as well as there might be possibility that you may have some hereditary diseases. Bear in mind that in most cases, medical tests are still being required by the insurance companies even if you are buying from their website as your health is one of the most crucial underwriting factors to be taken into account


1 Susceptibility to scammers there are numerous hoaxers in the virtual world which would offer low cost life insurance plans. More often than not, the rates they offer seem too good to be true. There is less security in buying over the internet. Nothing beats the traditional procuring means as you can be sure of the people that you are dealing with. More and more scammers have emerged because it is apparent that insurance is a lucrative business. This is why it is very vital that you take great caution in all your dealings. Make it a point that you verify the firm with proper authorities

2 Absence of interpersonal communication one of the downsides of lack of interpersonal communication is that the answers to your queries will not be real-time. It is only expected that you would have questions regarding the policy that you are eyeing on. If you are doing the correspondence electronically, you would have to wait for a few hours before your queries are addressed. There are firms which designate a representative who would provide chat support, talking to the clients who pay the site a visit. However, it may be interfered with your connections downtime

3 Leaving you on your own if you would obtain term life insurance quotes online, you are also on your own especially if the website does not contain enough information or data that you need about the policy. You cannot ask someone about a term that may be foreign to you so you would have to determine it by yourself.

Buying life insurance online certainly has its benefits and there is nothing wrong with taking advantage of it. It may or may not suit you. It pays that you know its ups and downs so that you know how too make use of the resources available

By: David Livingston
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  1. The most important kinds of insurance policies are long term life insurance and permanent life insurance. There are various variations within these. A term life insurance policy provides death insurance for a specified period.