Some leading Life insurance companies may provide their customers with a designated app that serves as a platform where individuals can find information about the insurer’s products and services. Typically, such apps are designed to provide individuals with all information about products, compare plans, calculate premiums, apply for policies, locate the nearest branch, and raise complaints, among others.
To make the most of the platform, individuals should know how to initiate a life insurance app download, the steps to use it, and its features.
Features of the life insurance app
These are the key features and benefits of the life insurance app –
Table of Contents
Individuals who are registered users of the app and existing policyholders can use a life insurance app to view their policies. They can also initiate the life insurance app download porcess to view their spouse or children’s current insurance plan.
Register for premium services
Individuals can raise online service requests for value-added services. For instance, they can pay the policy renewal premium, request a top-up, raise a loan, or pay loan interest through the app.
Calculate insurance premium
Life insurance apps also extend the feature of a premium calculator. It is essentially a financial tool that helps users ascertain the estimated insurance coverage and premiums as per one’s financial standing, coverage requirements, and other personal and financial parameters. With the help of a term insurance calculator, an individual can instantly compare plans and strategize their insurance purchase for maximum benefits.
View important documents
Such an app can also allow individuals to view policy statements and check payment dates. Typically, the app allows individuals to review policy quotations and premium calendars to set notifications so that they do not miss out on important policy dates. This will help users to stay updated about the policy developments like premium payment date, avail no claim bonus, etc.
The app also allows users to raise complaints about the policy, insurer service, or claim rejection. They can easily file claims online, eliminating the need to visit the branch in person.
View complaint status
Individuals can also view the status of their complaints online through the app. This will help users understand where they stand in terms of availing resolute and what’s the understanding of the insurer about the same.
Claim status inquiry
Individuals can check the status of the enquiry they raised about the policy online and plan their next step accordingly. Based on the status update they can take their next step and make necessary arrangements to tide over urgent situations.
Loan status enquiry
Similarly, individuals who have appealed to raise a loan against their insurance can check the status of approval on the app. This will help them track their request in real-time and make decisions based on the same.
Individuals can track their entire insurance claim history on the app and understand if they can raise another within the given period. It will serve as a record and help understand when a claim was raised and the conditions around its approval.
Email and SMS Alerts
Individuals can set SMS or email alerts through the app. This will keep them posted about the insurance developments and plan their next move accordingly.
Some tools can also help users to update their personal details held with the insurance company. For instance, the change could be as minor as a phone number, email, or address change, or as crucial as the addition or change or policy nominee. However, to avail of these benefits individuals need to sign in to the app using the number or email ID that’s registered with the insurer.
Why use a life insurance app?
A life insurance app is designed to make it easier for individuals to apply for, clear payments, and manage multiple policies through their phones easily. Typically, the apps comes with a user-friendly interface which helps individuals to navigate through its different features easily, making the task of managing policies on the app simple and hassle-free.
Life insurance apps provide a variety of convenience, accuracy, and speed. The app allows users to manage their insurance policy from anywhere and can help them view quotes, apply for insurance coverage, make payments, and file insurance claims quickly. The features of the app help users to avoid mistakes or miss out on payments or renewals. Since the app facilitates comparisons it helps individuals apply for coverage and pick the right policy for their needs.
Steps to initiate life insurance app download
Note that different life insurance apps may have distinct ways to access and use the app. However, here is a general idea about the steps to use that are common to most apps –
Step 1: Do a quick Google search for a life insurance app online or type the name of the app on Google or Apple store
Step 2: Click on the app to download it
Step 3: Install the app on your device
Step 4: Launch the app post installation
Step 5: Log in with your policy number or registered email or mobile number
Step 6: Explore the app features
Life insurance is a popular financial product that extends financial protection to family members in the event of the insured’s untimely death. Most life insurance plans typically pay a lump sum amount or death benefit to the nominee or beneficiaries to cover living expenses and ongoing liabilities without increasing their financial burden or adding to their stress. Individuals can easily purchase their choice of plan online or offline and make the most of the features to secure their loved ones financially. Subsequently, they can make the most of a life insurance app to manage their policies with greater ease and never miss out on important insurance dates. To do so they can follow the discussed steps to initiate the life insurance app download process and access the tool on their device anytime and at any time. They should further explore the features of the app to make the most of its offerings.