What do you get when you combine the beneficial term plan with the digital advances of the internet age? An online term plan. Such online term plans make it easy for potential policyholders to know everything about term insurance. The online mode also tends to increase the term insurance benefits for everyone involved.

Online term plans make it easier for policyholders to choose, create, manage, and claim term plans. It also helps the insurer reduce the paperwork and manage insurance police efficiently. Here you will get to specifically know about seven features of online term plans which makes them easy for everyone.

Term Insurance Calculator

A term insurance calculator is the best feature of the online term plan purchase process. Using a term insurance calculator, you can learn about the premium amount for a desired assured sum and the assured sum you can get for any given premium amount.

These calculators are available online on the website of most insurance providers and are free to use. They will require inputting some of the user’s details before providing the results. A primary attraction of such online calculators is that they are easy to use, and anyone with limited knowledge of computers can also use them.

Plan Customization

Most of the term plans from an insurer have customizable features such as premium amount, premium payment mode, premium payment frequency, plan details, nominee details, and mortality benefits payment type. So, several insurers have a plan customization tab on their website for use while purchasing a term plan.

Such a plan customization tab lets the user see how many options they can get in a plan. It also helps them realize how much the plan is customizable according to their requirements. You can also create a unique plan for yourself and maximize the term insurance benefits through plan customization.

Online Term Plan Application

Insurers also allow purchasing and applying for a term plan through their website or mobile application. It includes most processes like filling out the application form, uploading documents, uploading nominee documents, and registering the nominee. All these features of an online application make it easier for the user to purchase a plan online.

Online Payments

You can also make the payment through online payment modes. While purchasing a plan, the insurer’s website will divert you to a secure payment page where they provide most online payment modes. These include UPI payments, mobile wallets, debit cards, credit cards, and internet banking. So, you don’t need to pay in cash, DD, or cheque like in conventional term plan purchasing and complete the payment process immediately.

Online Document Verification

Insurers also don’t require any hard copies of the insurance application. They can complete the process online and give immediate application status updates to the customer. It can save some valuable time for both the policyholder and the insurer.

24×7 Online Support

The online mode also provides around-the-clock support to customers in case of need. They can get the policy document, information about plans and procedures, plan modification facility, and much more benefits from the online support. They can also raise online tickets or contact a customer relationship executive directly. So, the customers get immediate problem resolution through online support.

Raising Claim Online

Customers can also raise a claim using the website or mobile application. So, people don’t need to wait on the telephone or visit an authorized insurance agency office to register and raise claims with the insurer. After raising the claim, users can track the claim status and even finalize the mode of payment of the mortality returns.

Now that you know how an online term plan can work a charm for the policyholder, why don’t you browse and find a good plan online? It will help you access the best term insurance benefits with much ease and convenience. You can try using online life insurance calculator for a comprehensive service.

It provides several benefits that include plan customization and moving forward with payment through the calculator itself. So, you won’t have any trouble onboarding the great term plans they offer. So, don’t waste time and use a life insurance calculator to create a plan for yourself