Buying Life Insurance Online

>> Monday, August 29, 2011

Till 21 months ago life insurance as a product category was only sold through intermediaries. These could be life insurance agents, corporate agents, banks and brokers. These sales were driven largely by the commissions to be derived from such a sale and less by the needs and interests of customers. This resulted in a basic dichotomy that lead to a large number of dissatisfied customers who felt that they had either, been a sold a product they did not need or one which only partially fulfilled their needs. This remains a problem with intermediated selling where often the interests of the intermediary supersede the interests of customers.


The interests of the intermediary also lead to the creation of a number of insurance myths or legends. The most common myth was insurance was too complex a product to be bought by a customer. It needed the intervention of an intermediary to explain the product to the customer and facilitate the buying process. Today in category after category, including life insurance, it has been proven that there is a section of customers who do not need intermediation and are quite capable of making informed choices on their own. This is fuelling online sales of financial products including life insurance.

If you are a customer who is online and is comfortable using the internet and have some experience of having made an online purchase then maybe it is time you seriously looked at buying your life insurance online. Yes there are number of good options that are available on the internet for you.

In October 2009 a new entrant in the life insurance field took the bold step of launching a term product that was meant exclusively and designed specifically for online purchase. The product called AEGON Religare iTerm Plan was designed in such a way that the savings from distribution and other expenses were passed on to the customer resulting in great savings ranging from 10-70% - depending on age and policy term. This plan was immediately successful and continues to be one of the premier online plans available in the market. Today however there are options available from ICICI Prudential, Kotak Life, Metlife and AVIVA. This availability of products has expanded the market and has brought term insurance, classically a neglected category amongst both life insurance companies and intermediaries, back into the limelight. More importantly it has busted the myth that there is no ‘self-service’ market for life insurance products.

Today more and more customers are going online and buying life insurance for protection.
While the market is focusing on term plans AEGON Religare has again taken the lead and has launched another online plan which offers protection on a unit-linked platform – the AEGON Religare iMaximize Plan. This means that the product is structured in a manner so as to provide protection against death, income protection and protection of goals and ambitions. This works through a triple benefit feature. If the person who is the insured were to die his nominee/s will get immediately upon death the sum assured. In addition for the remainder of the policy term the nominee/s get an annual income equivalent to the annual premium paid and lastly, the company continues to pay the annual premium and keep the invested fund alive till the maturity of the plan wherein the nominee/s get the fund value.

This plan provides a triple protection layer that sets it apart from other plans in the market. As it is an online plan there is no premium allocation charge thus maximizing the life insured returns. It can be bought online through an 8-10 minute buying process. It is likely that we will see more such plans from other companies as well in the future.

Hence, the reasons why buying life insurance online is beneficial is that it provides you with value, is convenient - it can be done from you home or office anytime and most importantly you buy a product that you decide upon and not what an intermediary wants to sell. So if you’re comfortable go ahead and buy your life insurance online you’ll see value in it.

Read the full post...

India Updates

>> Wednesday, June 30, 2010

{Get Free SMS Update on your mobile phone Subscribe Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

India Education

>> Tuesday, May 25, 2010

So we have finally launched India Education Blog from squamble family -http://e.squamble.com


Read the full post...

Intraday Tips for November 27th.

>> Friday, November 27, 2009

US Markets ended flat.
Europe ended in deep red.
Asia has opened negative.
Expect Indian Markets to also have a negative opening.
The crucial support for the Sensex is at 16635-16542 and resistance at 17125
Nifty (5006) the crucial support for the Nifty is at 4909 and resistance at 5078

Day Trading Ideas :

RCOM : Buy above 169 for targets of 172.50 and 174. SL of 167

NTPC : Buy above 211 for targets of 213.10 and 215.25. SL of 209.20

Happy Investing!

Check out some interesting articles on www.squamble.com related to investments.

{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Intraday Tips for November 26th.

>> Thursday, November 26, 2009

US Markets ended in green.
Europe also ended in green.
Asia has opened positive.
Expect a positive opening on the Indian Stock Markets.

The crucial support for the Sensex is at 17150 and logical technical target at 17467
Nifty (5108) the crucial support for the Nifty is at 5050 and logical technical targets at 5155-5166

Day Trading Ideas :


Aurobindo Pharma : Buy above 850 for targets of 865 and 875. SL of 840

HCC : Buy above 140 for targets of 141.50 and 142.25. SL of 139.10

IFCI : Buy above 50 for targets of 51.10 and 52.25. SL of 49.10

Happy Investing!
{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Intraday Tips and Market Outlook for 5th Nov.

>> Thursday, November 5, 2009

US Markets ended mixed.
Europe ended higher.
Asia has opened flat.
Expect Indian Markets to open flat to negative.
The crucial support for the Sensex is at 15500 and logical technical target at 16156
Nifty (4711) The crucial support for the Nifty is at 4650 and logical technical targets at 4784

Day Trading Ideas :

HDIL : Buy above 320 for targets of 324 and 329. SL of 316.

IFCI : Buy above 44 for targets of 45.20 and 46.45

Happy Investing!
{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Intraday Tips and Market Outlook for 3rd Nov.

>> Tuesday, November 3, 2009

State of Markets abroad :
US Markets ended marginally higher.
Europe ended in green.
Asia has opened flat.
Expect Indian markets to open flat to negative.
The crucial support for the Sensex is at 15860-15356-15113 and logical technical target at 16600
The crucial support for the Nifty is at 4693-4550-4400 and logical technical targets at 4900

Day Trading ideas :

MNM : Buy above 922 for targets of 930 and 942. SL of 915.

RNRL : Buy above 64 for targets of 65.10 and 66.25. SL of 62.90

IFCI : Buy above 44 for targets of 45.10 and 46.25. SL of 43.25

Happy Investing!
{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Intraday Tips and Market outlook for 30th Oct.

>> Friday, October 30, 2009

State of Markets abroad :
US Markets ended higher.
Europe also ended higher.
Asia has opened higher too.
Expect Indian markets to have a positive and a gap up opening.
The crucial support for the Sensex is 15861 and the resistance is at 16144
Nifty: (4751) the crucial support for the Nifty is at 4699 and resistance is at 4785

Day Trading Ideas :

MNM : Buy above 930 for targets of 942 and 955. SL of 927

IRB Infra : Buy above 233 for targets of 241 and 245. SL of 230

LNT : Buy above 1580 for targets of 1592 and 1605. SL of 1571

Arrive at Sensible Buy & Sell Prices based on Fundamentals : Check out Now !

{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Intraday Tips and Market Outlook for 29th Oct.

>> Thursday, October 29, 2009

State of Markets abroad :
US Markets ended lower.
Europe also ended in negative.
Asia has opened negative.
Expect Indian Markets to open flat to negative.
The crucial support for the Sensex is 16144-15861 and the resistance is at 16474-16575
Nifty: (4826) the crucial support for the Nifty is at 4780-4699 and resistance is at 4888-4920

Day Trading Ideas :

KSK Energy : Buy above 199 for targets of 204 and 208. SL of 196

LNT : Buy above 1590 for targets of 1602 and 1615. SL of 1582

HDIL : Buy above 348 for targets of 351.50 and 353. SL of 346.85


{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...

Intraday Tips and Market Outlook for 28th Oct.

>> Wednesday, October 28, 2009

State of Markets abroad :
US Markets ended mixed.
Europe ended mixed.
Asia has opened flat.
Expect Indian Markets to open flat to positive.
The crucial support for the Sensex is 16221-15861 and the resistance is at 16721
Nifty: (4847) the crucial support for the Nifty is at 4699 and resistance is at 4961

Day Trading Ideas :

Union Bank : Buy above 257 for targets of 265. SL of 254

Wipro : Buy above 604 for targets of 612 and 618. SL of 600

TCS : Buy above 640 for targets of 648 and 654. SL of 635

Arrive at Sensible Buy & Sell Prices based on Fundamentals : Check out Now !

Happy Investing!
{Get Free SMS Update on your mobile phone Subscribe
Also don't miss to read any new article from this site Subscribe to Free Email "News Letter" }

Read the full post...