Life insurance policy: Can individuals buy policies other than their own?

One's decision to opt for a new policy should not be based on the premium to be paid alone.

Do you think online unit linked insurance plans (Ulips) are a better investment option than regular Ulips?

The principal advantage of buying Ulips online is that they come with low or no allocation charges as there is no intermediary cost involved. Also, the buying journey for the customer, when purchasing Ulips online, is more straightforward. He enjoys easy access to the information required to make a purchase decision. However, you may buy a Ulip through any channel you are comfortable with. Both online and offline Ulips have similar features and benefits structure and are designed to achieve long-term financial goals.

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