Can I buy an LIC policy online?
You can buy online if you know the agent who will help when required. It is not recommended to buy from an unknown person without knowing about him. LIC of India has given access to some policies to buy directly from the LIC website, but for those plans, the policyholder should be ready to go to the LIC branch from time to time. You can purchase LIC (Life Insurance Corporation) policies online.
LIC, like many other insurance providers, offers the option to buy policies through their official website. Buying LIC policies online can offer convenience and accessibility, allowing you to compare different plans, calculate premiums, and complete the purchase process from the comfort of your home or office.
As for the risks involved in buying LIC policies online, they are generally minimal if you follow certain precautions:
- Ensure Legitimacy: Only buy LIC policies from the official LIC website or authorized/licensed online platforms. Avoid third-party websites or unauthorized agents to mitigate the risk of fraud or purchasing counterfeit policies.
- Verify Information: Double-check all policy details, terms, and conditions before making a purchase. Ensure that the policy you’re buying meets your insurance needs and financial goals.
- Secure Payment: Use secure payment methods when making online transactions. Look for indicators of a secure website, such as HTTPS encryption, before entering any sensitive information like credit card details.
- Read Reviews and Testimonials: If you’re purchasing from an online platform other than LIC’s official website, read reviews and testimonials from other customers to gauge their credibility and reliability.
- Understand Policy Coverage: Thoroughly understand the coverage, benefits, exclusions, and limitations of the policy you’re buying. Ask questions if any details are unclear before committing to the purchase.
- Keep Records: Keep copies of all documents related to your online purchase, including receipts, policy documents, and communication with the insurer or online platform.
By taking these precautions and buying from reputable sources, the risks associated with purchasing LIC policies online can be effectively minimized. Additionally, LIC has a strong reputation as a government-owned insurance provider with a long history of reliability and trustworthiness in the Indian insurance market.
Most of the LIC plans in India are purchased from licensed agents only. Recently launched LIC plans are also available online and offline. Most of the old plans are to be purchased from the LIC agents only.
Most of the policies, where there is no insurance coverage or minimal insurance coverage, are available online.