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Should You Buy An Endowment Plan Online Or Offline?

Updated On Nov 08, 2021

For all of these reasons, buying insurance online beats buying insurance through a broker. Online insurance purchase wins over offline insurance purchase through an agent in terms of general convenience, quick access, lower rates due to fewer operational expenses, less paperwork, higher transparency, ease of payment, and renewal. You should calculate the exact amount of insurance coverage you require before purchasing a policy, regardless of the technique you use. Also, even if it means paying a slightly higher premium, it's worth it to be entirely honest about your personal and family health histories.

Should You Buy An Endowment Plan Online Or Offline?

When analyzing your method to answer this question, take into account the following factors:

1. Cost-Effectiveness

Endowment insurance policies must be obtained in person with the help of an insurance representative because they are more expensive. Because they assist you in selecting an insurance plan, a portion of your money goes toward their compensation.

Comparing prices using online approaches, on the other hand, might be a cost-effective method. It can assist you in bridging the gap by connecting you directly to the insurer, removing the need for a middleman, and saving you money. Without requiring outside assistance, investors can compare programs on a variety of websites. It's also worth noting that online endowment plans provide lower premium rates than traditional endowment plans, making them a more beneficial investment.

2. For The Sake Of Practicality

Investors who choose offline plans may argue that the process is easier because the Insurance agent handles everything. Investors can easily purchase an endowment plan by searching for it online and enrolling.

This is a powerful tool for investors because they will have a thorough grasp of the investment plan. It also eliminates the need for many visits to a third party for assistance, saving time and making the process more convenient.

3. Founded On The Principles Of Honesty And Adaptability

Endowment plans acquired offline, as previously said, will require the use of a third party, as well as multiple meetings with the agent and frequent visits to the policy center, making the process less transparent. While acquiring an insurance plan online, you can search the internet for consumer reviews of certain organizations’ case settlements.

Dealing with the insurance company directly is a good idea because you'll be more familiar with the terms and benefits of your policy.

4. Checking Your Reputation Is Easy

It's crucial to research your insurance provider's reputation and claim settlement ratio before purchasing an endowment plan.

The process is simplified by online portals that provide a variety of customer reviews. It's also easy to get information regarding your assurer's claim settlement history online, which can be hard to come by offline.

5. Taking Into Account The Options Available To The Investor

The number of possibilities available on offline platforms is limited compared to online platforms. Investors may have to examine each option separately, which might take a long time. Online platforms, on the other hand, simplify the process by providing investors with a wide range of options to choose from, making it simple to compare quotes and ultimately select the best plan.

6. Examine The Additional Advantages

Casualty coverage, such as accidents or death coverage, is only accessible if you pay a premium plus a fee. Furthermore, these policies exclude coverage for choleric disorders and compensation for chronically disabled people. This does not apply to any insurance acquired over the phone. In terms of additional plan characteristics, purchasing an endowment plan offline could be more beneficial.


The investor will have a different experience while purchasing an endowment through online and offline channels. It all boils down to the investor's desire in the end. However, as the preceding essay shows, the advantages of the internet frequently surpass the advantages of the offline world.

Also read - Pros and Cons of Buying Endowment Plans

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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