Buying a life insurance is the first step towards protecting yourself and the ones you care about. If you want to buy an online life insurance, then you can apply for it through online portals of insurance companies. As a person seeking life insurance, you will be entitled to answer a lot of questions; hence you need to be prepared to answer these queries honestly, as the approval of your application will depends on these answers.
The best thing about applying for a life insurance online is that you can get your doubts or queries cleared instantly from the eAdvisors. Purchasing Online life insurance policies is convenient.
Following are some steps that will assist you in applying for Life Insurance Plans online –
1.The first step is to get a quote for your premiums for your online life insurance policy.
2.Next, fill up your details, enter the sum assured, and the policy term, and calculate your premium.
3.After completing the second step, you will receive a quote, based on that select the Premium payment term.
4.Final step is to select the payment mode and premium; the sum assured will be paid at the time of settlement.
To get a quick quote, apply online by filling in your personal details. The online advisors will assist you in the process. In order to buy a life insurance online, you must submit a few essential documents along with the proposal form.
Here is a list documents required to complete your application process –
Age proof
Residential proof
Identity Proof
PAN number
Income Proof
Also, there are some things you need to keep in mind while buying a life insurance plan online –
Purchasing an incorrect policy is a big NO
You are investing your hard earned money in the insurance and purchasing an incorrect policy will be very risky. Read all the documents and check all the details correctly before purchasing one.
Reputation Check
Before buying any insurance policy, it is important that you tap into a lot of information about the company and the desired policy through collective user experiences. With the advent of social media, collecting consumer reviews is a lot easier these days.
Review the Policy
You’re investing a lot of money here, so do read the policy carefully before purchasing. Make sure all your questions are answered by reading the policy. Your e-advisor can help you understand things that are unclear.
Buy a Policy Not Just To Save Tax
Generally, people buy an insurance policy with an intention to gain tax benefits. However, life insurance plans are basically intended to provide your loved ones with financial security in your absence. So while purchasing one, consider other major benefits such as sum assured and death benefits too. Do not buy life insurance online merely for the tax benefits.
Kotak Life Insurance Brief:
Kotak Mahindra Old Mutual Life Insurance Ltd. is a Indian private life insurance company with its headquarters in Mumbai. The company is jointly owned by the Kotak Mahindra Group of India which owns 74.00% and Old Mutual of South Africa with 26.00% of the equity stake. It caters to both Individual and group clients.
Kotak life has a presence of over 200+ branches in over 150+ cities.
Kotak Life Insurance offers a wide variety of products which include Protection Plans, Saving and Investment Plans, Child Plans and Retirements Plans. Along with retail products they also provide Group Insurance Products.
They also provide an option of buying a policy online. There online products include: –
•Kotak preferred e term plan
•Kotak e assured savings plan
•Kotak e-lifetime income plan.
