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Purchasing An Endowment Plan Online Or Offline?

Updated On Sep 23, 2021

For all of these reasons, online insurance purchases triumph over offline insurance purchases through an agent. Convenience in the overall buying process, quick access, lower premiums due to lower operational costs, less paperwork, higher transparency, ease of payment, and renewal – online insurance purchase triumphs over offline insurance purchase through an agent. Regardless of the method you choose, you should calculate the exact amount of insurance coverage you require before obtaining a policy. Also, make sure to be completely honest about your personal and family health history even if it means paying a slightly higher premium, it's worth it.

Purchasing An Endowment Plan Online Or Offline?

To answer this question, consider the following elements when evaluating your strategy.

1. On The Basis Of Cost

On the basis of cost, endowment insurance policies must be purchased in person with the assistance of an insurance agent. A portion of the money you spend goes towards their commission because they help you choose an insurance plan.

Online techniques, on the other hand, can be a cost-effective tool for comparing pricing. It can help you bridge the gap by connecting you directly to the assurer, eliminating the need for a middleman, and saving you money.
Investors can compare programs on a variety of websites without the need for outside assistance. It's also worth mentioning that online endowment plans have lower premium rates than traditional endowment plans, making them a more profitable option.

2. On The Basis Of Convenience 

Investors interested in offline plans may argue that the process is more convenient because the Insurance agent does all of the work. Investors can easily buy an endowment plan by looking for it online and signing up for it.

For investors, this is an empowering tool since they will have a complete understanding of the plan in which they are investing. It also eliminates the need for repeat visits to a third party for help, saving time and making the operation less inconvenient.

3. On The Basis Of Integrity And Flexibility

Endowment plans purchased offline, as previously indicated, will necessitate the engagement of a third party, as well as numerous meetings with the agent and frequent visits to the policy center, making the process less transparent.

You can explore the internet for reviews of other customers' experiences with specific firms in terms of case settlements while purchasing an insurance plan online.

Dealing directly with the insurance carrier is a smart move because you'll be more aware of your policy's terms and advantages.

4. Reputation Checking Made Simple

Before obtaining an endowment plan, it is critical to analyze your insurance provider's reputation as well as their claim settlement ratio.

Online portals that offer a variety of consumer reviews make the procedure easier. It's also easier to get information about your assurer's claim settlement history online, which can be difficult to find offline.

5. Considering The Investor's Options

Offline platforms do not have as many options as online equivalents. Investors may have to check each alternative individually, which can be very consuming. Online platforms, on the other hand, make the process easier by giving investors a large selection of options to pick from, making it simple to compare quotations and eventually choose the best plan.

6. Check Out The Extra Benefits

Casualty coverage, like accidents or death coverage, is only available if you pay an additional cost in addition to the premium. In addition, these policies do not cover choleric illnesses or compensation for persons who are chronically incapacitated. This does not apply to any insurance coverage purchased offline. Purchasing an endowment plan offline might be more profitable in terms of additional plan features.


Buying an endowment through online and retail channels will provide a varied experience for the investor. In the end, it's all about the investor's desire. As the prior essay demonstrates, however, online benefits frequently outweigh offline benefits.

You may also like to read - What Are The Advantages Of Purchasing An Endowment Plan?

How An Endowment Plan Works - Explained!

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard.

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