How to buy a Postal Life Insurance policy online?
First, we will check the process of buying the PLI policy online prescribed by India Post, through the PLI Customer Portal. You may check the same in the PLI customer portal, as per the India Post website the step-by-step process is given below:-
- To procure Postal Life Insurance online, visit the URL: https://pli.indiapost.gov.in/CustomerPortal/Home.action.
- Navigate to the “Purchase a Policy” drop-down menu and select “Quote.”
- Generate a quote by entering a valid phone number, email ID, and correct PIN code.
- The name of the nearest Head Post Office will appear based on the provided PIN code.
- Fill out the Proposal Form as directed.
- Make the initial premium payment through the link provided in the email or the “initial payment menu” in the “Purchase a Policy” drop-down menu.
- Upload relevant documents through the “Document Upload” menu in the “Purchase a Policy” Customer Portal drop-down.
- The selected Head Post Office will download the documents and initiate further processing.
- The Policy Bond will be issued to the customer through Registered Post.
What is the best way to buy the PLI policy?
Advantages of buying a postal life insurance policy through an agent:
1. Personalization and guidance: Agents can help you understand your insurance needs and recommend suitable policies. They can explain complex terms and conditions, and tailor the coverages to your specific situation.
2. Easier application process: Agents can help you complete the application forms and ensure all necessary documents are submitted correctly. This can save you time and hassle.
3. Ongoing support: Agents can provide ongoing support throughout the life of your policy. They can answer your questions, help you update your information, and assist with claims.
4. Building a relationship: Having a personal relationship with an agent can be helpful, especially if you have any questions or concerns about your policy.
5. Additional benefits: Some agents may offer additional benefits, such as discounts or referrals.
Disadvantages of buying a postal life insurance policy through an agent:
1. Bias: Agents may be biased towards certain policies due to higher commissions, which may not be in their best interests.
2. Limited knowledge: Not all agents are experts on postal life insurance. Some may have limited knowledge of the different policies and benefits available.
3. Dependency: Reliance on an agent may limit your ability to compare and shop for the best policy.
8. Accessibility: Finding a qualified and trustworthy agent can be challenging.
Conclusion:
Whether to buy a postal life insurance policy through an agent is a personal decision. Weigh the advantages and disadvantages carefully and consider your individual needs and preferences.
- Do your own research before meeting with an agent.
- Ask questions and compare different policies and quotes.
- Choose a qualified and experienced agent.
- Be wary of high-pressure sales tactics.
- Read the policy documents carefully before you sign anything.
- To buy PLI policy through PLI agent, visit your nearest post office and get the PLI agent details, always prefer the agent working at the Post office for safety and better service as many departmental employees have a PLI agency.