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How to Get a Term Insurance Online?

Purchasing life insurance is a smart choice. Getting it online is a wiser decision since the process becomes hassle-free. Plus you can avoid paying commissions to intermediaries or agents which can help reduce the cost of a term plan. When you buy an online plan, you can also research its features and benefits with a few clicks and make a well-informed decision to protect the financial future of your family. 

How to Buy Term Insurance Online? 

Follow these steps to buy a term plan online: 

  • Visit the website of the chosen insurer and choose the plan that suits your requirements the most. 
  • Go through the product details.
  • Use the online calculator to determine the premium amount for the desired sum assured.  
  • Fill out the required details (name, email ID, phone number, etc.) online. 
  • Complete the digital documentation and pay the premium online based on the chosen frequency.

If you need help, you can call the insurer’s online service executives to guide you through the steps of your online application. 

What to Look for When Buying Term Insurance Online?

Before purchasing an online plan, go through all its features and details on the insurance company’s website. Make sure to select a plan that meets your needs. You can check out the following factors when buying a plan: 

  • Claim settlement policy
  • Flexible options 
  • Plan premium

Compare these factors of different term plans offered by the insurer on their website to choose the most suitable one. 

How Much Life Cover to Avail in an Online Term Plan?

You should opt for a life cover that is 10-20 times your annual income. Also, consider any outstanding dues when deciding on the cover amount. The cover should be large enough to help you manage all financial liabilities. The right value will differ based on your needs and financial situation. 

How to Customise a Term Plan Online? 

Consider an insurance provider who offers the flexibility to choose the premium amount, sum assured, premium payment term and policy duration based on your needs before you buy a term plan. Thus, you can customise it tailored to your requirements. 

Just visit the insurer’s website and choose the most suitable plan after comparing all the available options. Based on the plan, change the premium payment frequency and pick from the available riders as per your needs. 

See if there are additional maturity benefits and death benefits through different riders. You can check the features of the plans on the insurer’s site or call customer support to learn further about customising online plans.  

How to Claim Term Insurance Online?

To claim term insurance, you can inform the insurer about the demise of the insured person over a call or through email and fill out all the relevant forms on the insurer’s site. You can even inform the insurance provider and request a claim using their online intimation page. 

Now that you see how easily you can buy a term plan digitally, go ahead and purchase an online plan from the website of a reputed life insurance company offering multiple benefits and flexibility. 

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