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How to Buy Most Affordable Life Insurance Online in 2023

How to Buy Most Affordable Life Insurance Online in 2022

With the advancement of technology in today’s time and age, everything is available online. From education to work to buying life insurance, everything has become digital. After the impact Covid-19 pandemic on a global level, online has become the new normal. Investing in life insurance online has seen a rise in the past couple of years and has become one of the best ways to provide a financial safety net for ourselves and our loved ones. A life insurance policy ensures that you and your family are financially secure and do not face any struggles in the hard times of rising inflation rates.

So, if you are planning to invest in affordable life insurance online, you have come to the right place. In this article, we will look at what is life insurance and how to buy life insurance online.

What is Life Insurance Policy?

A life insurance policy is a contract between the policyholder and the insurance providing company. The policyholder has to pay premiums to the insurance company, and in return, he can avail the benefits of the policy. A life insurance policy provides financial security and a lump sum amount of death benefits to the family in case of an untimely demise of the policyholder. This will ensure that the family is able to live a comfortable life, even if the policyholder or the breadwinner is not there to provide financial help.

Few Things to Keep in Mind While Buying Life Insurance Online

1. Choose a Reliable Life Insurance Company

Before you invest in life insurance online, make sure that you choose a reliable life insurance company. This will ensure that you or your family do not face any constraints later on. You can check the company’s reliability by checking its claim settlement ratio. Claim settlement ratio means the number of claims settlement for every 100 claims that come to the company. Bharti AXA comes with one of the best claim settlement ratios in India – 99.09%

2. Choose a Life Insurance Plan That Matches Your Needs

We all have different short-term and long-term financial requirements. Before you invest in online life insurance, it is important for you to know an overview of your and your family’s financial requirements. This will ensure that the life insurance policy you have invested matches your requirements and helps you fight the rising cost of inflation rates.

3. Provide Your Personal Details

The third step in investing in an online life insurance policy is that you have to provide your personal details, such as age, gender, whether you smoke, your current income, etc.

4. Premium You Need to Pay

While investing in an online life insurance policy, you will have to pay a certain amount of premiums to the insurance providing company, and in return, you will be able to enjoy the benefits of the policy. It is important for you to check whether you can afford to pay the premiums of the policy or not. This will ensure that you or your family do not face any financial constraints while paying the premiums in future.

5. Medical History

After giving all the information to the insurance providing company, there are chances that the company might conduct a medical examination of the policyholder. In this case, the policyholder will have to visit a medical examination centre. After this, the insurance company will verify the documents and proceed with issuing an online life insurance policy to the policyholder.

Your Way Forward

You now know what a life insurance policy is and the steps to buy an online life insurance policy. So, in case you are planning to invest in an online life insurance policy, then Bharti AXA is your ultimate destination. We provide online life insurance policies in India for you to invest in.

For more information on online life insurance policies, get in touch with us today.

Disclaimer :

*Tax benefits are as per the Income Tax Act, 1961, and are subject to any amendments made thereto from time to time’

The article is meant to be general and informative in nature and should not be construed as solicitation material. Please read the related product brochures for exclusions, terms and conditions, warranties, etc. carefully before concluding a sale.
Make responsible financial decisions. Consult with your financial advisor before making any decisions on insurance purchase.

Suggested Plans

Bharti AXA Life Wealth Pro

  • An Individual Linked life cover with Insurance cum Savings Plan.
  • Choose a Variant: The plan offers you two variants to choose from a) Growth Variant b) Legacy variant
  • Grow your wealth further with Wealth booster
  • Multiple Investment Strategies to suit your investment needs
  • Tax benefits

Bharti AXA Life Guaranteed Wealth Pro

  • A non-linked, non-participating individual savings life insurance plan
  • Flexibility to choose the payout structure
  • Multiple income options
  • Option to receive tax free income beginning from the second policy year itself
  • Option to get lifelong income along with life cover till 100 years of age

Bharti AXA Life Flexi Term Pro

  • A Non-linked, Individual, Non-participating Pure Risk Premium Life Insurance policy
  • The plan offers two options: Without Return of Premium and With Return of Premium
  • Under the Without Return of Premium variant, you have the option between Single Life cover or Joint Life Cover i.e., cover for your spouse under the same policy.
  • Flexibility in policy and premium payment terms