What is the benefit of taking policy from Policybazaar?

Lower Premium Costs: Unlike the traditional methods of insurance purchase, there are no intermediaries involved in the online sales model and customers buy life insurance directly from companies. The lack of intermediaries results in omission of commission charges and reduction of operational costs and other overheads.

Is it good to take policy online?

Because of the lower costs involved the average sum assured tends to be higher in online policies, as compared to offline life insurance products. For instance it will not be uncommon for you to come across an advertisement that says that a policy of Rs 50 lakhs is available for a premium of just Rs 8.5 per day.

What is the benefit of purchasing LIC policy online?

Convenience in the overall buying process, quick access, lower premiums due to lesser operational costs, less paperwork, higher transparency, ease in payment and renewal – for all these reasons, the online mode of insurance purchase wins over the offline mode of buying through an agent.

Is buying insurance online cheaper?

It is generally cheaper to buy car insurance online, as there are no agent fees or markups. However, an agent can guide you through the purchase process and help you select the best coverage. Agents may also help you find car insurance discounts that you might not otherwise know about.

What is the benefit of buying any type of insurance?

Insured gets the tax benefits for premium paid depending on the insurance product type. For example, the premium paid towards life insurance plans qualifies for tax deduction under Section 80C of the Income Tax Act.

Can we take LIC policy directly?

Yes. You can directly visit your nearest LIC branch from there you can take policy.

Is online insurance safe?

To sum it up, it is absolutely safe to buy insurance online as long as you are going to the authentic website of the insurance provider. The process is convenient, you get the benefit of quick access, lower premiums, less documentation, more transparency and ease in payment and renewal.

What is the rate of return in LIC policy?

LIC has an average claim settlement ratio of 98.2\%, which makes it one of the most trusted insurers in the country. Customers these days go after plans that offer higher returns on the premiums paid.

Can I open LIC policy without agent?

A. You can buy LIC policy online without an agent as well as without added commission of the agent. The process to get the LIC policy online is described in detail below.

Are online insurance quotes accurate?

Are online insurance quotes accurate? They will be about as much of an accurate auto insurance quote as you let them. If you provide them with factual, up-to-date, detailed information about yourself, the insurance coverage you need, and your vehicle, you will get exceptionally accurate quotes.

Can I buy LIC without agent?

Currently LIC allows online purchase of Term Plan for Insurance and Jeevan Akshay Plan(Pension Plan). Other products are to be bought through their Agents only. You cannot buy an offline LIC policy without the help of an agent.

Is it better to buy a health insurance policy through PolicyBazaar?

It is better to buy a health insurance policy through Policybazaar as it gives you a number of options to compare. It helps you figure out which is the best plan for you depending on your needs and requirements. You can even save money by comparing and buying.

How policypolicy Bazaar can help you?

Policy Bazaar or any other like website or agents/distributor/web aggregator will help you or make not help you ( by advising suitable plans as per your requirement) but still will be paid commission on the business they give to the insurance company which would directly impact on your premium cost.

Does the complexity of insurance policy make a platform like Policybazaar unreliable?

So, yes complexities of insurance policy makes platform like this unreliable when the only goal of the sales team of Policybazaar is revenue maximisation and profit AND I CAN SAY THIS BECAUSE OF MY PERSONAL EXPERIENCE AS A CUSTOMER, I CAUGHT THEIR SALES TEAM LYING AND ACTUALLY THEY EVEN CALL TO THE CUSTOMERS THROUGH THEIR PERSONAL NUMBERS.

Why is my policy number in PolicyBazaar invalid?

When I emphasized on why the policy number is invalid and started scolding policybazaar, he toned his voice down and said it may be due to communication gap between policybazaar and National Insurance Company. He will be updating the policy number to National Insurance Company and confirm me through my mail id within 4-5 working days.