The emerging global world has introduced the digital online network to make life easier. It has changed how you access a product, purchase, and benefit from it. Life insurance plans are in no way different! Gone are those days wherein you purchase a term insurance policy visiting the branch, discussing your concern with an insurance agent, and purchasing it for your benefit.
 

With the emergence of direct term life insurance plans, you can decide on the premium, sum assured, and all the other necessary features while accessing and purchasing it directly with the insurer online or any other convenient medium. So, here is a detail of how you can do it!
 

What is a Direct Term Life Insurance Plan?
 

A direct term life insurance plan is a term plan that is directly available for your purchase without the involvement of an intermediary. Therefore, you can access and purchase it directly from the insurance provider. It is a simpler, convenient, and quick way to get covered for safeguarding your family's financial future.
 

How Does a Direct Term Insurance Plan Work?
 

Direct term life insurance plans are available online predominantly and otherwise through direct contact with the insurance provider. You can access, analyse and decide on the product based on your needs and commitments.
 

Here, we also provide online term insurance calculator, wherein you can calculate the premium based on the sum assured and the policy term. You can try various factors and derive the right estimate. The policy term depends on the term plan and can range from 5 to 50 years or even whole life.
 

Other flexible options include the premium payment mode and term and the payout option. The premium payment mode refers to whether you want to pay it regularly or for a limited term. Also, if you choose to pay it regularly, it can be monthly, quarterly, semi-annually, or annually.
 

The direct term plan cash payout option refers to whether you require the sum assured as a lump sum or a regular income. On deciding these parameters, you can apply for an online term plan. Upon verification, the term plan will get active on your profile. You can renew it, modify the options, increase the sum assured, etc., online as and when desired.
 

The sum assured from the term plan will be provided to your nominee in the case of your unexpected demise during the policy term. They can utilise it for their short-term and long-term family commitments. Therefore, you need not rely on an external source to choose the policy features for the life cover for your benefit with the direct term plans.
 

What Are The Advantages of Direct Term Life Insurance?

  

Direct term life insurance is preferred considering the following advantages:
 

1. Cost-effective - A term insurance policy is considered the most affordable option for more sum assured. In addition, the direct term plans make it even cost-effective, with no involvement of intermediaries. Moreover, if you purchase a direct term plan at a young age, the probability of having a pre-existing illness is less. It reduces the risk of death, reducing the term insurance rates to a great extent. 
2. Convenience - Direct term insurance plans are hassle-free, considering the efforts needed to look for an insurance agent, fixing an appointment, understanding the different term plans, and relying on their recommendation for the life cover. It is convenient and can be purchased from the comfort of your house anytime.
3. Flexibility - When you purchase direct term plans, you can navigate through the different options online, compare the features, and make a smart decision. There is the possibility of choosing flexible features such as the premium payment term, riders^#, payout options, etc., at your convenience. Therefore, you can maintain your policy, modify, renew, etc., comfortably at a suitable time.
4. Swift - The procedure involved in purchasing and using direct term plans makes it extremely quick. As there are no intermediaries involved, you don't have to wait for their presence and recommendations. While customer service executives are always available to address your queries to purchase term plans online, the process is faster. You can communicate with them online or by phone when needed.
5. Secure - Direct term plans are considered secure due to the operational features. While they offer the option to access your personalised information and plan features transparently, it is securely maintained and available at your perusal.
6. Skip medical tests - Direct term plans also provide the option to skip medical tests. Therefore, you can reduce the waiting time to receive the medical test reports. You can move on to the next step of the application process by answering a few questions about your health and family medical history. It is simple, effortless, and quick! Although you skip medical tests, you must convey your health condition to the insurer appropriately to avoid claim rejection later in life.
    

Conclusion
 

Direct term plans emerge, considering their simple, instant, and convenient purchase methods. Moreover, it offers online and other modes of application without the involvement of intermediaries. So, if you are a busy professional seeking life cover, then direct term plans can be an ideal solution to plan for your financial needs conveniently. Moreover, it can provide the necessary sum assured to your loved ones in case of your unexpected demise while making the process simpler, cost-effective, secure, and quick. Therefore, avail of direct term plans early in life to ensure greater benefits at an affordable rate with convenience at its best!
 

L&C/Advt/2022/Nov/2704