Published July 2020
These days, it seems like the whole world has gone digital. Canada has seen a whopping 167% year-over-year growth in online transactions.1 There are very few things we DON’T shop for online now, from gourmet burritos, to household goods, to electronics – you name it. So why not life insurance?
It’s a brave new digital world.
The life insurance category has admittedly been a holdout, the latecomer to the digital adoption party. It’s not surprising, considering that many people still think of life insurance as complicated and difficult to understand without an advisor to help answer questions, provide clarity and offer insights. However, that seems to be changing. New technologies are helping to make decisions and buying processes much easier, by providing easy access to resources, online quote tools and more secure payment methods.
While 79% of Canadians say they prefer and feel more confident buying life insurance from an advisor, there’s a growing trend in purchasing life insurance online, with 37% of Canadians preferring to purchase life insurance online. It’s an attractive option for people with busy schedules, and can save the time of having to physically go and meet with an advisor. A further 52% of Canadians have a preference for buying life insurance through a trusted association such as CAA.2
Online convenience plus an actual person: the best of both worlds.
And while the barrier to purchasing life insurance online for some Canadians may have been the absence of a real live person to talk to, that’s changing too. An emerging trend in the insurance category is having a Web Chat option, where you can anonymously speak with a licensed insurance professional through the messenger box. They can walk you through any product details, plan decisions and the application process itself.
What are the benefits of buying life insurance online? Lots:
- It’s simple and convenient
- Allows you to research your options online
- Online recommendation tools can help you pick a plan
- Get a free, no-obligations quote online
- Explore your premiums at different coverage amounts
- No need to book an appointment
- Don’t have to leave the comfort of your home
- Save time for more important things
- You control the purchase process, on your schedule
- You’re never alone with Web Chat, which puts you in touch with a live advisor to help answer your questions
So if you’ve never thought about buying life insurance online before, why not try it out with CAA Term Life Insurance. Getting a quote could take less than 3 minutes of your time.