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Offline vs Online Term Plan
Term insurance is an essential aspect of financial planning. It offers high coverage at a cheap price and is the most effective approach to ensuring your dependents have a secure future after your death. ...Read More
1 Crore Term Insurance@ Rs.21/day***
To delay is to regret
You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.
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Return of Premium (ROP) Option^
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17% Online Discount**
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Same Day Claim Processing#
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100% Claims guaranteed15
:1800-266-9777
Offline vs Online Term Plan - Which Option is Better?
Here are a few features of both the ways to help you decide which one is better for you:
Cost:
Online insurance plans are around 40% cheaper than offline insurance plan. The saving of the cost is owing to the fact that there is no agent involved and you can directly book it from the website. This saves on the agent's commission cost and hence the reduction in fee.Facts disclosure:
Online plans come with comprehensive exposure of details because the user fills out the paperwork all by himself. There is nothing hidden and he is aware of all the terms of the policies. In case of offline plans, the person is dependent on the agent and may skip a few important facts about the policy.Sum assured:
Online plans come with low costs and zero mortality and hence assure high sums. Not many offline plans offer a high sum assured and in case where the sum assured is high, the premium is also high.Flexibility:
Online plans are more flexible than offline plans. You can visit the website, choose a plan, pay the premium and the documents get delivered at your doorstep. The medical procedure and premium payment process is also very smooth. You will have to depend on the agent and his schedule for offline plans and visit the insurance company for payments and starting the process.Rider benefits:
Both the options have rider benefits available. In case of an online plan, you may miss out on the options or skip reading them. In case of offline plans, you can ask the agent to explain you all the rider benefits.
HDFC Life has term insurance plans best suited for your needs.
Related Articles
- How to Buy Term Life Insurance Online?
- Why Purchasing term insurance online is good idea?
- How an Online and Offline Term Plan Differ from Each Other
- Why You Should Consider Buying Insurance Online
Francis Rodrigues
Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.
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Here's all you should know about life insurance.
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HDFC Life
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HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER
We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.
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*Online Premium for Life Option, Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Monthly Premium of Rs1047/30=34.9)
***Online Premium for Life Option for HDFC Life Click 2 Protect Super (UIN: 101N145V07), Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Monthly Premium of 622/30=20.7).
**7% online discount available on 1st year premium only
^ Available under Life & Life Plus plan options
#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved
@As per integrated annual report FY23-24, available on www.hdfclife.com. As of May 2024
15. HDFC Life Click 2 Protect Ultimate(UIN: 101N179V01) A Non-Linked, Non-Participating, Individual, Pure Risk Premium/Savings Life Insurance Plan. The policy must be in force on the date of death, with all premiums fully paid, except for the exclusion clauses mentioned in Part F of the policy document.
