Term Insurance

Can I Buy Term Insurance Online?

by SMCIB on Tuesday, 02 May 2023

Can I Buy Term Insurance Online?

Today, you can do practically anything online: shopping, paying your bills, ordering food, etc. This convenience has revolutionised the way people make purchases, and continues to shape the retail industry as a whole. Online shopping has become a go-to option for many people looking to shop with ease. What’s more? You can take advantage of different discounts and coupons offered by online stores, making it easier to get the most out of your money.

Since everything is available online today, you might wonder if life insurance policies like term insurance can be bought online as well.

Well, let’s find out!
 

But, before that, let's see what term insurance is all about.

A term insurance plan is a very straightforward product that provides the necessary financial protection for your family - in case life throws you a curveball. If you pass away while the policy is active, the insurance company will pay a sum of money to your family. The money paid can go a long way in helping your family tackle the financial stress of your death, allowing them to continue living without worrying about financial security.

Your family will receive this money as per the claim payout option you chose while buying the policy. They can use it to pay off debts, take care of monthly bills and groceries, and for long-term financial goals like children’s studies, planning a wedding, etc.

However, term insurance is a pure risk insurance cover. If you survive till the end of the policy duration, it won’t pay any benefits to you.
 

So, can you buy term insurance online?

The answer is yes, you can buy term insurance online. Over the past few years, buying term insurance online has become increasingly popular due to its convenience and ease. The rise of online insurance marketplaces and digital platforms has made it possible to purchase term insurance online. Moreover, online portals have been made user-friendly and offer competitive rates, making it more convenient for those looking for a cost-effective way to protect their families. So, by shopping online, you can find the best term insurance policy that suits your needs and budget, quickly and easily.

In fact, SMC offers term insurance online. With a few clicks, you can be sure that you have the perfect term insurance policy, right here at SMC. No more running around from agent to agent or trying to find the best deal - just click, buy and be done with it! ?
 

So, How Do You Buy Term Insurance Online At SMC?

Here are the steps you need to follow to buy term insurance online at SMC.

  1. Visit https://www.smcinsurance.com/.

  2. Click on ‘Life Insurance'.

  3. Enter your gender, full name, date of birth, and mobile number.

  4. In the next step, you will be asked some basic lifestyle questions including whether you smoke or chew tobacco, your annual income, how much cover you wish to purchase, and your desired policy term.

  5. Next, click 'Compare Quotes'.

  6. You'll be able to view some term insurance plans.

  7. You can change various aspects of the policy such as the policy term, insurance coverage amount, premium payment frequency, etc. and see how the premiums change accordingly.

  8. To learn more about the plans, you can also download their brochures.

  9. After choosing your desired term insurance plan, you can click on ‘Buy Now’ and proceed with the application.

So, once you have purchased the policy, you will have the peace of mind that comes with knowing that your family is financially secure.


Benefits of Buying Term Insurance Online

There are many advantages to purchasing term insurance online. Here are some -

1️⃣ One-stop convenience
The efficiency of buying term insurance online cannot be overstated. Without the need to wait in long lines or drive to the insurer or agent’s office, you can purchase your policy in just a few clicks from the comfort of your home, any time of day or night. The process is incredibly convenient and can be done in a matter of minutes.

2️⃣ Cost-Effective
You can save money by buying term insurance online. Some insurance platforms may offer you discounts on the premium amount that may otherwise not be available offline. So, you will be able to get a policy at the best cost!

 3️⃣ Comparison Is Easier Than Ever
A major advantage of buying term insurance online is the ability to compare policies from multiple insurance companies. This can save you time and money, as the process of shopping around for the best value can be done quickly and efficiently. By comparing premiums, features, and benefits, you will be able to choose a policy that meets your needs as well as ensure you're getting the best deal possible

4️⃣ Open & Transparent
The process of buying term insurance online is completely transparent. There is no room for doubt or confusion, as you can access all relevant information with ease. You can review the policy's terms and conditions, premium payment options, and other details. It ensures that you are aware of what you are signing up for and allows you to make an informed decision.



Wrapping up!

Purchasing term insurance online is a convenient, cost-effective, and hassle-free way to secure your family's financial future. And, with SMC's user-friendly website, the buying process has never been easier, allowing you to get the necessary protection your family needs in no time. Before that, take the time to research and compare policies - in order to ensure you're getting the most coverage for your money.

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