Push for online sale of insurance policies won’t hit agents’ job

Online policies are unsolicited and the onus of getting claims lies with the nominee. The nominee many times have to run from pillar to post for a year and go to consumer court to get a claim. The process takes about 1 whole year and in some cases they don't even get claims. This is a malicious move of IRDA to allow insurers to sell online policies. They show claim settlement ratios which is an eyewash because the ratios consists of maturity claims(why LIC shows highest claim settlement ratio), surrender claims, rider claims, offline death claims and online claims. Now how can this ratio be considered for buying online insurance? These moves are just to make the company earn more money by removing the true lawyers of the customer(an agent and not banks or brokers).