The e-commerce boom has made financial instruments, including insurance policies, readily available online. Buying a term insurance plan from your insurance provider’s web portal saves both time and money. Online purchases don’t involve an intermediary, and the transaction occurs directly with the company. Steps to follow while buying term insurance online: Assess your needs: The sum assured of your term insurance should be adequate to meet your family’s financial obligations in your absence. To determine the amount that will be sufficient, you can consider the following: Number of financial dependents in your family Your existing liabilities like mortgages, loans. etc. Funds required to...
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Online sale is gathering momentum in the life insurance sector with one out of five term products being bought directly by customers are online rather than from agents and advisers, according to a Max Life Insurance senior official. Last financial year, 12.5 per cent of overall term policies by premium were purchased by Indians online, while on the saving side, it is still muted with less than 1 per cent of total premium via the channel, Max Life Insurance Deputy Managing Director V Viswanand said. "So, it started becoming quite a significant channel now for some companies like Life market share was close to 30 per cent in FY'21. Currently, also holding up which means one in three online...
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In this digital era when everything is moving online, life insurance is no different. Along with the usual benefits like 24x7 availability, convenience and speed, online insurance makes a lot of sense. Here is why you should buy Term Insurance Plan Online? 1. Lower Premiums Research shows that in some cases, online term insurance plan can cost up to 40% lesser than offline plans with the same features and benefits. 1. One of the key factors that influence cost is the absence of an insurance advisor (and hence savings on the distribution costs and commissions). 2. In addition, savings from overheads (documentation, logistics, stationery, etc.) are also passed on to you. 3. Further, for the...
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Term Plans have become the most popular form of insurance owing to the relative value they provide with low premiums and high cover. These plans provide the core proposition of protection against risk and bring a sense of relief and peace of mind since you can be assured that your family will be taken care of, even when you are no longer around. Term Plans can be bought offline as well as Online. These vary in their price by a certain margin, and most people aren’t sure whether to go for an online or an offline Term Plan. Let's try to resolve some of the confusion and help you make a better decision based on your choice. Is A Low Premium All That You’re Looking For? When buying something...
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CUNA Mutual Group’s TruStage® online term life solution exceeds $1 billion in coverage just 10 months after introduction Policy Coverage for TruStage simplified-issue term life insurance doubles since July;During National Life Insurance awareness month, strong momentum underscores demand for affordable, easy-to-purchase life insurance coverage MADISON, WI (September 26, 2017) — TruStage, CUNA Mutual Group’s consumer brand, announced today its simplified-issue term life product has exceeded $1 billion in consumer coverage—double the amount since July. Unveiled in November 2016, TruStage has expanded its coverage across 49 states as one of the first insurers to offer a term life...
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Huize Holding Limited to Report Second Quarter 2020 Financial Results on August 20, 2020 SHENZHEN, China, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Huize Holding Limited, (“Huize,” or the “Company”) (NASDAQ: HUIZ), a leading independent online insurance product and service platform in China, today announced that it plans to release its second quarter 2020 financial results before the market opens on Thursday, August 20, 2020. The Company’s management team will hold a Direct Event conference call on Thursday, August 20, 2020, at 8:00 A.M. Eastern Time (or 8:00 P.M. Beijing Time on the same day) to discuss the financial results. Details for the conference call are as follows: A live and archived...
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NEW YORK, Aug. 12, 2020 /PRNewswire/ -- Haven Life , the customer-centric life insurance agency backed and wholly owned by Massachusetts Mutual Life Insurance Company (MassMutual), is announcing the launch of Haven Secure, an innovative new term life insurance product that can be purchased entirely online. With Haven Secure, coverage mirrors your monthly income or can match a large recurring expense (like a mortgage). If the policyholder were to die within the term length, Haven Secure would provide their loved ones with a steady monthly benefit for a minimum of five years. "At Haven Life, we're committed to helping people secure dependable financial protection in ways that are affordable...
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The plan offers life cover for a relatively small premium and comes with the flexibility to choose policy term and premium payment term. It allows an individual to choose between three life cover options. IDBI Federal Life Insurance today launched its MyLife Protection Plan, a pure term plan that offers financial security through the policyholder’s life. The plan comes with options and features to suit different needs and preferences and can be bought through a quick online process The plan offers life cover for a relatively small premium and comes with the flexibility to choose policy term and premium payment term. It allows an individual to choose between three life cover options...
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Regular Pay & Pay till 60: 10 years Regular Pay & Pay till 60: 50 years subject to Maximum Maturity Age (85 years) Pay till 10: 50 years subject to Maximum Maturity Age (85 years) Option 1: Basic Life Cover - Pays your nominee a fixed amount (100% sum assured) Pay until the age of 60 years and get coverage up to 85 Option 2: Basic Life Cover along with Monthly Income - pays your family a fixed amount (100% sum assured) + a fixed sum every month (0.4% of the Sum Assured) for 10 years as fixed monthly income Monthly income benefit is payable over and above the base Sum Assured Option 3: Basic Term Life Cover and Increasing Monthly Income - Pays your family a fixed amount (sum assured...
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The process of filling the proposal form to policy issuance and providing a soft copy, everything is now online, which is now easier and customer-friendly. After the outbreak of COVID-19 pandemic, there has been a general perception that in the times ahead, the need to buy life insurance will go up. “Never before life insurance was seen with this importance as it is seen and valued today under the given circumstances. People are now more concerned and looking forward to buying a life insurance policy. Investors have started understanding the significance of Term Life plan as it is a guaranteed way of providing financial protection to your loved ones in case of an untimely eventuality,” says...
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