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Services Availed in Online Life Insurance Policy @ Aditya Birla Sun Life Insurance Articles


Get to know about different services that are availed online in life insurance policy at Aditya Birla Sun Life Insurance and how life insurance helps you to live life happily!
What are the services that can be availed online for life insurance?

Life insurance is an essential requirement in the modern times. More and more people are buying life insurance policy according to their insurance needs. But how many people have the time to go down to the life insurance company's office for every small requirement or query related to the plan that they want to buy? This is the reason why the life insurance providers have madetheir services available online. From buying the life insurance policy to checking the account details to renewing and making claim applications, everything can be done digitally nowadays. This is a huge boon as digitalisation of life insurance has made life easier for the insurance buyer and existing policyholders as well as the insurance providers. Let us take a look, how?
 

Paradigm shift in life insurance

While a lot of people still buy and service a life insurance policy through their insurance agents or their bankers, a good amount of the work can be done online, by the customers themselves. There are many reasons and the first and foremost is that it is convenient and can be done at any time and from any place if you have internet connectivity (you have to register on the life insurance company website and obtain your user ID and password). So you don't have to wait for a branch to open or go down to your agent's office or bank branch. You can do it all yourself.

If you are a first time life insurance buyer and you intend to buy the life insurance policy online, Life Insurance Company need not pay any commission to any intermediary and therefore your premiums are much lesser than that of the one bought from the life insurance agents.

You can even link your bank accounts to your insurance policy and when a claim is processed or a renewal needs to be paid, it can be done smoothly without having to run around to get the amounts transferred to your bank / or pay the premium in due time.

What are the services that can be availed online for life insurance?

Purchasing a life insurance policy: Every life insurance company in India has a website through which you can avail all the services including buying a life insurance policy online. You can buy a policy online in a few minutes without having to fill up huge number of pages of the policy form. The process is easy as you enter required details online and even pay the premium online using your net-banking account or debit card.

Comparison of life insurance: Comparing the various type of life insurance policy before purchasing a one for you, helps you find the best plan at a competitive premium rate. Digitalisation has made it very simple to compare the various life insurance plans. There are designated life insurance comparison websites that can compare a vast number of plans and do the work for you in a very short span of time.


Life insurance policy renewals: Paying policy renewal premiums no longer a lengthy and difficult process to carry out, no queues and no visiting any life insurance company any more. You can simply visit the company website and pay renewalpremiums instantly. You can also set up ECS payment mode wherein the renewal premium amounts are auto debited from your designated bank account on due dates.


Life insurance Policy claims: In the unfortunate event of policy holder's death, the nominee can apply for the claim by filling out a simple online form. The process has become very simple and made the claim process post the bereavement of the policy holder very convenient.


Digital records of life insurance policy: The policy details are always available online, provided you have a user id and password. This is a very useful benefit as with life insurance, the policy documents and details are essential and keeping digital copies of these documents makes it a lot safer. In case you have bought a ULIP plan, Life Insurance Company sends you the valuation report your investments periodicallyin your email ID.


Digitalisation has proved to be a true boon to the life insurance sector. The insurance providers as well as the insurance seekersare being greatly benefitted by this shift. More and more people are moving to the digital space for their insurance needs everyday and the trend is expected to grow even further. You must ensure that you have registered your life insurance policy (old as well as new one) with the respective company and service / track their progress online.