Financial Products, Loans, Investment, Insurance. Today more and more customers are opting to buy financial products online. As per a recent study by Google. 18% of financial products in India are sold online. So why are people preferring to buy online?
Here are the top 5 Reasons.
Most Financial companies have great sources of information on their websites. This helps you understand the Product, Claims procedure as well as Terms and Conditions better. This also insures against information getting lost in translation when you pick a product based on an intermediary’s advice. So basically you know what you are getting when you buy a product.
When you buy products online, the financial company saves money as they don’t need to pay any intermediary. For Insurance products, this will also mean you get Higher Sum Assured. As more and more people start buying online, the products get cheaper and the customers benefit more.
Before deciding on a product, compare features, prices, fees across multiple products and providers. This helps you understand what is out there in the market and helps you choose the best product that suits your need. To save time, visit one of the websites that provide Aggregator services. They help you compare similar products from different financial institutions.
Online purchase is much faster compared to traditional offline model. You understand the product, choose the best one and pay online. Few Aggregator websites also lets you upload documents/proofs so that you can manage your financial portfolio from the comforts of your home. No need to run to the Xerox shop or submit documents physically.