The Advantages and Disadvantages of E-Insurance Policies

There is no denying the fact that life without a life insurance policy is no less than a gamble. It is not just a risky endeavor for your financial security but also for the lives which are dependent on you. You cannot just sit back sipping on tea and roll a dice on the lives of your dependents. You must think of purchasing a life insurance policy as soon as you start earning, without wasting much of your precious years. You must remember that insurance agencies extend their insurance policies at a cheaper rate to you when you still have your valuable young years.

Talking about life insurance policies, e-insurance policies have become quite a rage these days with the rapid technological boom. It is easily available, falls within your immediate reach and is also cost-effective if you think about it. It is hassle-free, especially for the tech-savvy generation who would want to carry out their jobs at the click of a mouse than visit an insurer’s office or fill out forms manually. But, are these e-insurance policies all glory and no doom? This remains debatable, and this is what we are going to look into in this article. We are going to analyze the various dimensions of e-insurance and check whether one should really seek refuge in it. Talking about e-insurance policies and various other online financial plans, it is essential that you know certain things before you apply for a loan or a credit card for that matter. The importance of a good credit balance, for instance, is something that every credit card holder must know of, lest it might lead to several financial and legal troubles. You can find the information of the same in the credit cards section at


The Perks of E-Insurance:

Before we tread on the darker territories of e-insurance, let us first talk about the advantages of e-insurance. One of the biggest advantages of e-insurance is that it brings to you a plethora of insurance policies under one platform for you to choose from. You can compare and contrast the cost of premiums provided by different insurance agencies which shall lend you knowledge and enlighten you in the process. It makes for your ability to make informed decisions. Not only would you get your hands on several insurance policies and understand the difference in the rates of premiums, but also will you be able to judge the pros and cons of these policies and be able to choose only the best for you. Additionally, when you buy these insurance policies online, the distribution cost is cut down. Customers can purchase the policies directly online, on their own, which results in the distributor’s margin being cut off entirely. Plus, when you buy these insurance policies online, you can easily scour for genuine customer reviews, which shall enhance the customer experience.

E-Insurance: A Mousetrap?

Now that we have covered the benefits of opting for an e-insurance, it is time to weigh in the darker side to the same topic. Online insurance policies cannot be customized to suit your requirements. This is perhaps the biggest drawback that comes along with e-insurance plans. There is no option for customers to customize the policies, which is quite the need of the hour. If you are going for e-insurance plans, you will have to make do with the basic and vanilla insurance policies. Plus, there are no agents in between which might make it difficult for customers to understand the different plans.


The other drawback that comes with e-insurance plans is that it does not allow customers to come to a settlement regarding the premiums of the policies. Since there is no agent involved in the process, there is no way to negotiate the cost of premiums. Also, several insurance policies these days offer added benefits like critical health coverage, accident disability benefits, etc. E-Insurance policies do not provide these benefits. These offers are pre-set and do not offer any room for changes. These policies are not flexible enough that would suit the requirements of your situation. In case you would want to bundle several added benefits together to get a more holistic coverage plan, there are fewer chances for you to be able to do it.


Every tale has two sides to it. It is imperative that we look at both sides before making a decision. E-insurance might look easy and extremely affordable, which in reality is. It has several benefits for you to make use of. But that is not all that there is to this insurance. Like we have already discussed, e-insurance has its own disadvantages that might elude your sense at first thought. But, as you think deeper and analyze the dimensions, you will understand that this ostensibly easy looking insurance has the potential to assume the shape of a mousetrap if one is not careful. The choices are less, the help that one can get to make choices is also limited. You are completely on your own, and it is you who will have to make sense of everything that there is at your disposal. Therefore, tread carefully when you are considering the option of e-insurance.