What Are Different Online Services For Policyholders?

Every time you have a query related to your life insurance policy, do you rush to your agent’s office or call up at the insurance company’s customer care number to resolve your problem? If the analysis done by life insurers on customer behavior has anything to go by, chances are high that you also do the same. Various leading insurance companies have found out that only small percentage of their customers access the online policy servicing options, while, the remaining still prefer exercising traditional methods, such as calling up the insurance agent or visiting the company’s branch to sought out their problems. There are varied reasons for the poor online participation by clients. While, there are some people who find the entire process of generating the login ID and password daunting, others still pat for conventional methods.

Whatever could be the reason, the reality is that a customer can ensure an easy access to his policy details by registering on the insurer’s official website. After selecting your own user name and password, you can safely log into the portal and can view your policy details, fund value, download account statement, among others. There are some service requests which ask for an additional pin number or code, which is generally required to enter when the user wants to make a request for changing premium frequency, fund apportionment change or fund switching. Let’s find out some of the important services which can be accessed online-

Downloading E-statements- While furnishing investment proof for tax purposes, most of us do a lot of running around to get hard copy of investments. During those trying time, the online facility could be a real time saver. By entering into the digital space, you can get a certificate of premium for income tax deduction. Instead of collecting the separate premium receipts for individual policies, one mouse click can give you a consolidated statement for all insurance policies in real time.

Checking fund value- For most of us, the annual statement is the only way to get the information about the fund value. But now all those who want to keep a more frequent tab, the internet can really do wonders. All you require is to log in to your online account and get daily alerts on the fund value without having to call up the customer care.

Easy tracking of policies- If you have purchased two or more insurance policies from the same insurer, an online account proves useful in listing down all of them at one place so that you can track your investments easily without wasting a minute. Moreover, there is no need to wait for a reminder message from your insurance company for your next premium due date.

Payment of policy premium online- By paying premium online, you will not only save your time but it will also help in curtailing cost. Nowadays, most of the insurers are offering multiple online premium payment options, wherein customers will be able to pay their premiums through net banking or by using credit/debit card.

Fund switching- When the market plummets, it prompts a change in the investment strategy of people. Some people shift from debt to equity to cash in on the low prices, while others switch from equity to debt, taking a cautious approach. To fasten the fund switching option, various companies are providing online switching of funds. The redirection of premium, change in premium frequency and mode become easy with a click.

Register complaints and view current status online- You can also register your complaints and give suggestions online. Insurance companies are offering customers with an option to track the current status of their complaints.