Steps to Buy an Online Term Plan
The market is hugely accepting online term plans, and this trend is steadily growing.
And rightly so, given the associated benefits of such insurance policies. For instance,
insurance companies believe that most individuals with internet access are financially
comfortable. Due to this, companies are in a position to offer higher life insurances
covers. So, if their offline plan has an age cover of 70 years, the corresponding
online cover up the maximum age to 75 years.
Where to Start?
Although we are privy to information regarding its benefits, much has not been said about procedures. Many company websites take you through a process wizard, making things easy. They also have a customer helpline to assist you through the process and answer all your questions. Here are is a skeleton outline of how you need to go about applying for online term plans. The best place to start is choosing the appropriate plan, based on your need.
Steps after Choosing an Online Term PlanTerm insurance policy offers coverage only for a set period of time. On the occurrence of death or permanent disability during the tenure of the plan, the beneficiaries will be paid benefits to cover income loss or unpaid debt. Disability can be both partial and total, depending on the type of plan. However, if the insured survives the term of the plan, no such benefits are paid.
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