Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak e-Term

Protect Your family’s financial future with Kotak e-Term. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and insurance in one premium. Know more

Kotak e-Invest

Insurance and investment in one plan with Kotak e-Invest. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more


Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

5 Advantages of Life Insurance Going Digital

Digital Life Insurance - Read 5 advantages of Life insurance going digital in india on this article. Visit Kotak Life insurance to know more on Life Insurance

  • Mar 11, 2021

So many aspects of life are now digital. Right from shopping, buying groceries to making money transfers, most financial activities are carried out digitally in today’s times. Many industries have taken to digital modes of operations to make their products and services more accessible. Most of the insurance sector has shifted to the internet to sell and renew insurance plans as well as settle claims and customer queries.

Here are five advantages of life insurance going digital:

1.Digital life insurance reduces operational costs

Going digital reduces the operational costs for insurance companies. These include:

  • The cost of offline advertising and marketing
  • Internal infrastructure

The standardization of systems has also reduced the added expense of brokers and agents. Tasks, such as helping customers compare different insurance policies, providing information at fingertips, and assisting policyholders in buying a policy is a lot easier and cost-effective now.

This reduction in operational costs allows insurers to save money and in turn offer discounts to policyholders on insurance premiums.

2.Digital life insurance delivers a better customer experience.

Digital life insurance has improved the customer experience. For instance, customers can:

  • Access a variety of life insurance policies in seconds
  • Compare different products
  • Use calculators to determine the premium and sum assured

Even the claim settlement can be requested online. This is more time-efficient and convenient for customers. Complaints and queries can be settled faster as most insurance companies have their accounts on social media platforms, with quick turnaround times. Moreover, customers can stay up-to-date with the latest life insurance policies and learn about insurance through insurers websites.

3. Digital life insurance makes all things convenient.

The main benefit of life insurance going digital is the switch from offline to online modes for carrying out different tasks. This has enabled customers to:

  • Buy life insurance online
  • Check the status of their policy online
  • Carry out searches to add optional covers to their existing policy
  • Raise a claim through a tap and avail cashless claim settlement services

This switch has even benefited insurers, offering them benefits, such as:

  • Easy accessibility to third-party service providers to assist in claim settlement
  • Direct connection with network hospitals
  • Ability to settle customer queries instantly

4. Digital life insurance provides safety and reduces the chances of fraud.

By eliminating the need for agents and brokers, insurers reduce the chances of false sales or fraud. These can save customers from paying unnecessary hidden costs and buying the wrong policy. Moreover, the possibility of errors, delays, misinformation, and policy rejection is also reduced. Lastly, as the statistics provided by insurers is on their official website, customers are guaranteed to receive authentic information.

5. Digital life insurance builds better long-term insurer-customer relations.

The continuous digital exchange between the insurer and customer makes purchasing life insurance more transparent. This means that all the data provided by a customer stays safe with the company. Moreover, companies ensure that no sensitive and personal customer information, such as bank account or debit/ credit card details stays with them. This commitment to respecting a customer’s privacy helps in strengthening their trust in the company. With such levels of transparency in every process, stronger insurer-customer relations are built and maintained.

To sum it up

The digitization of life insurance has proved to be beneficial for both customers and insurers. Kotak Life Insurance understands the need for moving with the times and giving its customers the best the digital, sphere has to offer. At Kotak Life Insurance, you can not only access a range of life insurance products but also learn how to gain maximum profits and protection from them.

Kotak e-Term

Download Brochure


  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

Similar Articles

Terms and Conditions of Term Insurance Plans

How Does Life Insurance Work?

What Is Insurance Rider and It’s Benefits?

What is the Difference Between Limited and Regular Pay Insurance Plan?

Guidelines for Linking Aadhar and PAN to Insurance Policies

How to Customize Your Life Insurance Policy with Riders

Is it Possible to Reduce Life Insurance Premium without Affecting Sum Assured?

Important Terminologies of Life Insurance

How to Find the Best Term Insurance Plan in Seven Steps

Reasons Why Term Insurance Claims Get Rejected

How Much Life Insurance Costs and How Much Insurance Cover You Need?

Role of Life Insurance in Your Financial Portfolio

Is it Possible to Make Changes in a Term Plan’s Specification Post Purchase?

भारत में जीवन बीमा पॉलिसियों के प्रकार

Role of IRDAI in the Insurance Sector

1 CR Term Insurance Plan: How to Pick the Best 1 CR Term Plan

Does Family History Affects your Term Life Insurance Rates?

Benefits of Buying Term Insurance Plan for Senior Citizens in India

Why Online Term Insurance Plans Cheap?

“Life” Insurance or “Death” Insurance?

Is Voluntary Life Insurance the Same as Basic Life Insurance?

5 Easy Steps to Buying A Policy

How to Choose a Life Insurance Policy

All You Need to Know About KYC

What Is Surrender Value (Cash Surrender Value) in Insurance and how is it calculated?

Is It Time to Review Life Insurance Policy of Yours?

Choosing a Life Insurance Beneficiary

All About Backdating in Life Insurance

What is Insurance Coverage? Overview, Types, and Examples

What Should One Consider Buying: Term Insurance or Traditional Life Insurance

Digital Life Certificate for Pensioners Seeking Pension

Term Insurance Vs Life insurance: Small Details, Big Differences

Beware of Phishing & Fraud Insurance Calls

Important Changes to Make in Your Health & Life Insurance Plan After Marriage

Why Life Insurance Is Always a Smart Decision

NRI Premium Payment Options

Why One Must Buy Term Insurance before 25 Years

6 Types of Insurance Policies in India

Biggest Life Insurance Myths

Can You Apply For A Life Insurance After Getting Heart Attack? Here is Everything You Need To Know

Why Term Insurance for Women is Important?

वरिष्ठ नागरिकों के लिए ऑनलाइन टर्म इंश्योरेंस प्लान खरीदने के लिए गाइड

Life Insurance for Overweight Applicants

6 Different Types of Insurance Policies

Life Insurance vs Mutual Funds

Does Life Insurance Pay for Suicidal Death?

What are robo-advisors in insurance?

Life Insurance for Millennials

Do Life Insurance Premiums Increase Every Year?

All about Life Insurance Calculators

5 Ways to ensure faster settlement of claims

How to Calculate Human Life Value(HLV)?

Adding A Child to Your Life Insurance Policy?

First Job? Here’s Some Tips on How to Manage Finances

Why You Should Never Cancel Life Insurance Policy

Who Is A Nominee In A Life Insurance Plan?

Is Life Insurance an Investment?

In India, should NRIs purchase life insurance?

What is the Difference Between Insurance and Reinsurance?

What is Life Insurance?

Term Life Insurance vs Accidental Death Insurance

How Many Insurances Should I Have?

5 Reasons Why a Women Should Buy a Life Insurance

Life Insurance Nominees: 5 Must-Know Facts for Beneficiaries

Voluntary Life Insurance Policy Vs Group Life Insurance

What are the Benefits of Endowment Policy?

Why Do Life Insurance Agents Avoid Selling Term Plans?

Most Common Life Insurance Riders to Enhance Your Existing Policy

What Is the Procedure to choose a nomination in life insurance policy?

Sabse Pehle Life Insurance

How to Buy a Term Life Insurance Online

What Is Investment Insurance?

Why is Medical Test Important While Buying a Term Insurance?

क्या जीवन बीमा एक निवेश है?

Are Deaths Due To Coronavirus Covered by Kotak E-Term Plan?

Difference Between Money Back and Endowment Policy

Important Life Insurance Terms You Must Know

How Do Term Insurance Plans Differ for Smokers?

Benefits of Term Insurance with Critical Illness Rider

Can You Transfer Life Insurance Policies to Another Company in India?

Best Insurance Plans in India

Health Insurance VS Life Insurance

Difference Between Insurance and Assurance?

Key Things to Review in Your Life Insurance Policy Document

Can a Term Plan be the Substitute for a Retirement Plan?

Choosing Between Short-Term & Long-Term Insurance Plans

Different Types Of Life Insurance In India

Life Insurance and Retirement Planning

5 Common Life Insurance FAQs and Answers

What Is Social Impact Investing and How Does It Benefit Society?

How to Select a Perfect Life Insurance Policy in India to Protect Your Future?

Loan Against Life Insurance Policy

Guide for Buying Online Term Insurance Plans for Senior Citizens

9 Most Important Things You Must Learn About Paying Life Insurance Premium

How Much Life Insurance Do You Need?

6 Things You May Not Know about Life Insurance

Choose the Nominee of a Term Life Insurance Plan Wisely

Term Insurance for Home Loan: How Term Plan Helps in Paying Off Home Loan?

How to Make Death Claims on Life Insurance?

जीवन बीमा पर ऋण

What happens to joint life insurance after divorce?

A Term Insurance Guide for Disabled People

Staying Insured While Investing

Top 5 Common Life Insurance Myths and Facts

Different Kind of Deaths that are Not Covered in a Term Insurance Plan

Importance of Checking Claim Settlement Ratio before Buying Life Insurance

Kotak Life Claim Settlement Ratio

Details Required To Be Filled In A Life Insurance Form

All You Need to Know About Life Insurance - Its Benefits, Features, and Types of Life Insurance

Insurance Vs Investment - A Guide to Your Financial Goals

Should You Buy Life Insurance After Getting Married?

How to Choose Life Insurance for All Ages?

How Often You Must Review Your Life Insurance Policy?

What is Human Life value and a Human Life Value Calculator?

Is It Advisable To Have Multiple Life Insurance Policies?

Life Insurance with Money Back vs Without Money Back

When are Millennials required to take out a life insurance policy?

Life Insurance Plans for Women

Life Insurance Policy Closure

What Should One Expect During the Medical Evaluation for Life Insurance?

What Happens If You Stop Paying Life Insurance Premiums?

Take 100% Responsibility of Your Family with Term Life Insurance

Why Buying a Term Insurance is Important for all Parents

Do Your Financial Planning with Life Insurance!

Term Insurance Tips for NRIs in India

Savings cum Protection Plans Secures Your Family from Unforeseen Events

Life Insurance for Overweight Applicants

What is Sum Assured in Endowment Policy?

Think About Life Insurance Sooner than Later

Why Should You Buy Term Insurance under the MWP Act (Married Women’s Property Act)?

5 Reasons Why You Need Life Insurance in College

FAQs on Life Insurance

Is Life Insurance For Millennials Really Needed?

Comparing low premium term insurance Is Not the Only Factor While Buying Life Insurance

Health Insurance VS Life Insurance

Various Term Insurance Premium Payment Options Available in India

How to Choose the Right Life Insurance Policy for Your Age?

All About Life Insurance and How It Works?

Term Plan with Return of Premium (TROP)

What is Underinsurance & The Dangers of Being Underinsured

What is a Single Premium Term Plan and its Tax Benefit?

How to Use Different Types of Life Insurance for Retirement Planning?

What is Minimum Life Insurance Policy?

How do life insurance payouts work?

क्रिटिकल इलनेस राइडर के साथ टर्म इंश्योरेंस के लाभ

5 Benefits of Gifting Life Insurance Cover to Your Spouse

All about IRDAI

Does Life Insurance Cover Terminal Illness?

Important Features of a Term Insurance Plan

Life Insurance Vs. Mutual Funds Investment

Why Renewal of Term Insurance Plan is Important

भारत में सर्वश्रेष्ठ टर्म प्लान कैसे चुनें?

How Much Life Insurance Cover Do I Need?

How to Revive the Lapsed Life Insurance Policy?

Types of Life Insurance Or One Investment, Many Options

Types of Insurance You Must Invest in for Secure Future

बीमा क्षेत्र में IRDAI की भूमिका

What Is a Whole Life Insurance Plan?

How to Buy a Life Insurance Plan?

Why Your Family Should Know About Your Life Insurance Policy?

What is Group Insurance?

Types of Life Insurance Policies in India

7 Superficial Reasons People Avoid Buying Insurance Online

Is it Worth Buying Disability Rider on Term Insurance?

What Is Staggered Payment Option Under Term Insurance Policy?

Compare Different Life Insurance Products Offered By Kotak Life

Why do I Need Life Insurance?

Always keep your Nominee informed

Does Life Insurance Policy Cover Covid Death?

Customer Awareness on Information Security

8 Things to Consider Before You Buy Life Insurance

How To Choose The Right Life Insurance

Important Factors to Consider While Choosing the Right Term Period for Your Term Insurance Plan

Life Insurance Beneficiary

All about Your Rights and Duties While Buying Life Insurance Policy

What is the Current Trend in Term Insurance?

Life Insurance and Millennials

जीवन बीमा क्या है?

5 Things to Keep in Mind While Buying Life Insurance Policy

Nominee in insurance - A Complete Guide on nomination in insurance

Can NRI Buy Life Insurance in India?

Why do most Indians choose the wrong way to buy life insurance?

Process of Filing A Claim For Life Insurance

What Is The Life Insurance Penetration In India And How Does It Compare Globally?