Term
Why More Indians Are Choosing Online-Only Term Policies?
According to a recent survey, almost 65% of the Indian respondents showed interest in purchasing insurance online rather than the traditional method. These figures are driven by reasons such as convenience and digital engagement.
The Indian insurance landscape has shifted heavily towards digital methods, and interestingly, there has been a positive response. Let's take the example of Sakshi Srivastava, a 32-year-old lawyer based in Bangalore. When Sakshi decided to secure the financial needs of her family members, her first inclination was towards purchasing a term insurance policy.
However, instead of calling an agent right away, Sakshi went online to explore all the available options. Soon, she found a term plan with a high sum assured and a rather affordable premium.
Sakshi's story is the new normal for many Indians. The trend towards choosing online term policies is picking up pace. But what makes so many Indians choose online-only term policies rather than going ahead with traditional methods? Let’s discover this transformation in detail.