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January 29, 2021

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As it is rightly said, "morning shows the day" and we all want to start the year afresh and wish to keep the entire year moving in the same way hence, people hope to spend it in the best way. Most people plan to visit somewhere new, to feel the new year in a new way. A growing number of people are booking their tickets, their stay and even their vacation experiences through the internet. Through our experience, we know how hassle free this can be as this takes just a few clicks to book. What if this ease is applied to buying life insurance online?

How life insurance can be beneficial?

We usually overlook the matter that insurance plays a very vital role in holding up in the situation of a crisis. We don't consider it of much importance until the circumstance arises. However, a sudden accident makes us realise how vital it is to keep insurance. The insurance plays as an alternative in the time of the problem. Most of the people look for protection and security and insurance is the right response to it.

The following are some points of how life insurance can be beneficial to an individual:

  • It's always important to keep a backup plan financially. In times of extreme grief, it gets tougher to deal with a low financial situation to face the need for all expenses. Life insurance comes with coverage to facilitate the crisis. It will be e there to look after the protection of the family in the time of need
  • A life insurance promises one's life a secured future while the time of a mishap. In case there is any tragedy, the insurer makes sure that the family gets financial services. Life insurance plans also provide financial support to people with a little income and growing age. There are several policies one could look into and choose for their own usefulness
  • Among any other financial insurance, life insurance comes with the best resulting in the scheme. They come with bonuses which are absent in most of these schemes. Hence, the money used will be got back completely as promised either after the term is completed or while the person meets death. In either way, the finance is safely returned.
  • Under the section 80C in the Act of Income Tax, the undertakings made in particular instruments are accountable to the reimbursement. Presently, the sum for the rebate is Rs 100,000 and can be invested in any life insurance premium, or other similar investments*
  • One can also take a loan through life insurance in urgency. And the amount of money that can be loaned totally depends on the coverage of the life insurance policy
  • One can draft his financial goals as per requirements through life insurance. This will help one in every stage of life in real need. It helps a person as a long term property not only while the phase of sudden demise. One can facilitate the child's marriage, education, and other fields with the investment as well
  • Most importantly the security of the family is ensured. This helps in paying several rents, loans and other debts. This money helps in providing financial support when the only earning member fails to aid any more.
  • There is another feature that helps in increasing the coverage that is called rider

Life insurance is very indispensable. It is a tool that lessens the extra risks while the time of risk. Considering the actual need for life insurance one must get one for themselves.

Buying insurance online is very simple. One has to go through a few simple steps to complete the action. This is hassle-free and requires very less time.

The following are the steps to buy Life Insurance Plans:

  1. First one must log in into www.hdfc.com
  2. Next tap on the online insurance streamer
  3. Put the sum guaranteed
  4. Select your policy term accordingly
  5. Select the premium payment term
  6. Choose your bank
  7. Make the payment

You will get an acknowledgement for that. You will be assured by the bank within 3 weeks if you're approved or not. You will get a soft copy of the policy if you are approved. This will be followed by a hard copy.

*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/01/21/22174

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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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