The life insurance industry has entered the fast lane. Today it encourages you to buy life insurance online, and not wait for an insurance agent to call and sell insurance. You can simply choose a policy, get a quote, fill out your details and get insured in a quarter of an hour. Online insurance buying is not only convenient; but it is simple too. This is the reason why more people, who were earlier put off by the process, are now buying insurance. They include young couples, single women and businessmen.
A company that has brought about this change is the Liberty Life Insurance Company, which is a subsidiary of RBC Insurance. It is among the first insurance companies to set up a do-it-yourself site. You can use this site not only to get a quote but even to buy insurance. Your application is processed instantly and if it is found up to the mark your policy is issued within 15 minutes.
This is possible because the information in your application is forwarded for automated underwriting and review in a secure electronic environment. There is no file-pushing and there is no human interaction factor at play here.
As for files, the minute you are issued a policy you get a secure i-folder, which has all your correspondence, documents and details. You can use this i-folder to perform a wide range of functions online from changing your nominee right down to changing your mode of payment. There are no insurance offices to visit, no officers to meet and no paperwork to clear.
A site such as this makes the whole process of insurance buying simple safe and appealing to the common man. Since the process is more or less instant and very transparent, the customer feels in control of the situation.
As for the ceiling on the amount of insurance that can be issued online, the range available is between $50,000-$1,50,000. These policies are available in 10, 15 or 20 year options at competitive rates.
That's not where it ends. Purchasers can return their policies within 31 days and get a full refund if they are not happy with their policy.
So if you have been keeping away from insurance because of paperwork and bureaucracy, it's time for fresh decision making. You can get insured at the click of a button and within minutes. So get online. That's all you need to do to get insured.