Buy pure insurance cover online to save at least 5% on paying commissions

Use offline channels when buying insurance-cum-investment products, as they are more complex and the fine print needs to be understood

The bulk of life insurance sale in India still occurs through face-to-face interaction. A recent report by PwC and the Confederation of Indian Industry (CII) says that face-to-face distribution channels account for 99 per cent of sale by premium, and only 1 per cent comes from web aggregators or online channels. However, the online channel has become an important medium for the sale of term insurance, where, according to industry sources, it enjoys a 25 per cent share. Customers need to understand the pros and cons of offline and online channels before they decide where to make their purchase from. 

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