The Internet of Things has taken over not just our social lives but every aspect of our existence, including our financial lives. The advancement of technology has eradicated the requirement of middlemen to purchase investment products to a great extent.
With online availability, 4G ULIPs are also meeting the requirement of the time. Their easy availability has not only removed middlemen/distributors/agents from the process but has also reduced the cost of purchase and engagement with their investment for customers.
Here is a transcription of the video in which, Anuj Mathur, MD and CEO, Canara HSBC Oriental Bank of Commerce Life Insurance, is talking about the benefits of low charges in Online ULIPs.
Vivek Law – The 4g ULIPs, the Invest 4G ULIPs as you call it. Is this only available online or is this also available offline?
Anuj Mathur – No, it is only available online and there is a reason to it as online we can pass the benefit of low charges to the customer. The infrastructure which is required for online is very different from offline.
So, the beauty of this product is that it is only available online. The customer can buy 24/7 and the charges are very minuscule.
Vivek Law – You know there are lots of talks right now in the mutual fund industry and I know this interview is not about comparison. However, about direct plans, which the regulators there have been pushing people to buy, so are you saying that the invest 4G is a direct plan.
Anuj Mathur – That’s right! The customer has the option of going directly to our website or going to the Policybazaars’ website and buying from there. There is no dependency on any agent and there is no dependency on any distributor. One can go and buy online.
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