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Finally taking that virtual Zumba class? Why not make a room for life insurance too?

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January 29, 2021

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The Covid-19 pandemic has transformed the way we used to think of various hobbies and activities. Hardly anybody pictured themselves stuck in their houses for months on end, having to make the best of the space of their homes. Many took to reading, binge watching TV shows, and home-workouts. One would imagine hobbies like Zumba would have taken a dip as classes are generally conducted in person. Yet, this was not the case. Many people took to the online medium to continue their love for Zumba, burning away calories from the comfort of their homes. An example of this was seen when 30 woman in Jharia were awarded for continuing to pursue Zumba despite the lockdown restrictions. This was done as part of a three-month fitness course, organized by a youth organization called Samadhan.

As witnessed here, the internet can be a huge catalyst for positive change when used the right way. Yet, many people are averse to using this medium for important personal purchases, such as life insurance. Can this barrier be overcome with the right information?

Let's dig deeper to know the benefits of buying insurance online and understand why it is an easy option.

What are the benefits of buying online insurance?

We save time by online shopping, ordering food online and also buy groceries online. Every information you want to seek is available on a click of a button. It involves minimal paperwork and has a quick application process.

Gone are the days of visiting an insurance office or even fixing a meeting with an insurance agent. Today, purchasing online insurance is just a few clicks away, even in the comfort zone of your home.

When you buy online, you get the opportunity to compare prices, save time, get a secured policy document and undoubtedly you are offered with online customer support service round the clock.

Why does life insurance matter and what are its benefits?

Buying Life Insurance is not a new norm, it has supported millions of families since it was introduced.

HDFC Life continues to help families cope with the breadwinner's loss on financial terms as they get a death benefit. There are many kinds of insurance schemes that you can choose depending on your financial situation, commitments, age and family.

Here are some of the advantages enumerated:

  • Peace of mind
  • Savings
  • Wealth creation
  • Tax benefits*

What are term plans?

Term plans are affordable insurance plans that provide full protection and financial stability to your loved ones in case of any unforeseen events.

With term insurance, you can get a large amount of life cover at a relatively low premium rate. The benefit amount is paid out to the nominee in case of death of the person insured during the term of the policy.

So, what's a good time to buy life insurance?

The earlier you start, the better it is.

When you are younger, the chances of your insurance being rejected are lower as you are likely to have a healthy medical history. Note that the longer you delay, the possibility of a medical condition that affects premiums and insurance acceptance increases.

How to buy online

Visit the website of HDFC Life. You can calculate premium online. Fill in basic details such as your email id, phone number, and date of birth so you get a quote. Choose the best quote and pay your premium.

After your payment is made, you will receive an application number for your proposal. You will then be asked to fill in the proposal form with your details such as contact information, occupation, health details, family, and if you have any policy already.

A medical test may or may not be required, depending on the policy. You will also be asked to submit proof of income and other KYC documents.

To sum up

One may not have imagined enjoying virtual Zumba class a year ago. Similarly, one may not envisage buying life insurance online, until you realize how easy it is. Life insurance is available at the click of a button at premiums and one can consider buying through the HDFC Life portal.

*The above-mentioned tax rates and tax benefits are subject to changes in tax laws. Please contact your tax consultant for an exact calculation of your tax liabilities.

ARN:ED/01/21/22172

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Francis Rodrigues 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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Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

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