Precautions while taking Online Term Insurance in India

By | January 12, 2019

Do you know? What does misselling mean? It is practice does by a salesman to mislead a person about the features and the attributes regarding a product or service. Before proceeding further to the main topic that let us talk about what does term insurance and why you should buy it.

A term insurance plan is an insurance plan which offers coverage to an insured person and which provides financial security to a person. It is always a great option to buy a term insurance plan because it offers you financial security such that you can achieve the goals in your life in the future. In an unforeseen circumstance, it will take care of your family and will do all your responsibilities.

In many cases, an agent look for his own benefits thus they mislead a person about a type of products so that the person will buy the product. Or in some cases, if the agent tells the right features but the potential buyer understands it wrongly and comes out with a wrong conclusion. In both the cases, the misselling can influence the person needs and demands.

So, the best part of buying online term insurance is that you can buy it without the influence of any person as no salesperson is involved in this process. Buying a term life insurance product online is a completely safe service in which you don’t have to face any hassle but note that it does not apply to all. Let us consider a scenario and look at the various aspects and then decide whether you should buy a term insurance plan online or offline.


Ram is an employee in the private sector who does not find much time to buy a term insurance plan offline. He considered that buying term insurance online will save him from hassle as well as he considered that no agent will be there in the process such that no misspell will be there.

But what he considers and what happens next is completely opposite. Ram chooses a term insurance plan and then applies online to buy it. He seems that the process of buying the term insurance is smooth and easy. After some time, he receives a call from the same company calling him for a medical test. But what happened next will surprise you.

He visited the medical center and after some time he received a call that all reports are fine. But after some time he again receives a call stating that you need to get signature of a cardiologist.

It makes him feel good as everything was going right. But after some time, he again receives a call on which the person on the call saying that there is a minor problem in the reports and if he wants to get the medical report stating the normal condition of the person then he needs to pay an amount of money or otherwise he has to pay the increased premiums. The person says that “I will change the reports of the person with someone who is healthy but for this task, you have to pay an amount of money to me”.

Ram was an educated person, he doesn’t pay him nor buy the term insurance plan he has selected. So, from this scenario, it can be concluded that it is not necessary that whenever you are buying term insurance online that means there will be no any agent who will missell you and to whom you have to pay commission.

Note: it is always a great idea to buy a term insurance plan as it will safeguard you and your family’s future financially. But while buying you have to b careful from all such frauds and scams. Buy a policy from an authorized seller and you don’t need to pay any commission to buy a particular term insurance plan. Safeguard yourself from all such agents and beware from any kind of scams. Do great research before opting a plan and then select the right one as per your choice and preferences.

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