How To Buy Online Term Insurance Plans | Tips To Purchase Online Policies

How to Buy Online Term Insurance Plans

Life is entirely filled with if’s and but’s, none of us know what might happen even the next second. In India, most of the lower to middle class family depends on the single earning person. This makes the security of that person so vital. If you have planned to pick out your Term Insurance policy then the question may arise i.e. How to Buy Online Term Insurance Plans? We have shortlisted the Tips to Purchase Online Policies with entire procedure.

How to Buy Online Term Insurance Plans

Term insurance may be defined as it is a type of insurance which is availed for a convinced period of time and it is the affordable form of insurance that offers reimbursement to the beneficiaries after the insurer death. The most important fact of this policy is that it has a built-in feature to obtain transformed to the everlasting life insurance policies irrespective of the state of health of the term insurance policyholder.

How To Buy Online Term Insurance Plans

  • Follow the mentioned procedure and easily purchase your insurance plan.
  • First of all, log on to the company website.
  • After that hit on sum assured.
  • Select the policy term.
  • Then decide the premium paying term.
  • After that premium amount appears.
  • Choose your bank through you want to premium payment.
  • Acknowledgement on a successful transaction is done.
  • After the approval complete you will receive soft copy.
  • Then after some you will get hard copy officially.

Know About – How to Choose the Best Life Insurance Plan

Tips To Purchase Online Policies

Compare With Other Policies

An intelligent person never purchases any policy without comparing it with other policies. It doesn’t matter are you buying a policy online or offline. In case of offline purchasing policy agent might be recommend you buy the policy of its insurance company but it’s a depends you are aware so before taking any decision check the all terms of policy.

Choose A Reputed Company

Selection of company is also important decision. It is advised to users always choose trusted brand which is stable and well known in the market. Applier must check the CSR ratio. In India LIC has maximum claim settlement ratio. ICICI Prudential, HDFC Life, SBI Life are the well known and trustable companies.

Read About Best Health Insurance Plans In India

Terms And Condition

Before selecting any policy must ensure about the terms and condition of that policy. Because each company formulated different rules with different criteria so if you don’t want to see unexpected surprise so must read the whole details carefully before signing on any documents.

Take The Advice Of Experience Person

Insurance advisors are excellent in their work to convince the customer. Mostly try their best to convince you to buy such a policy which company provides them highest commission. So it’s important you to take the advice of your family member, friend or neighbor which is well experienced.

Save The Transaction Page

After selecting your policy follow the instruction and fill the form carefully then take a screenshot of the transaction page for future sake. It will really helpful in case of any transaction error.

Read NowTop 10 Life Insurance Companies In India

Types Of Term Insurance Plans

  • Regular Term Insurance plans
  • Term Return of Premium Plans (TROP)
  • Group Term Insurance Plans
  • Endowment Plans
  • Money Back Plan

Documents Required For Term Insurance

  • PAN card
  • DOB/ driving license
  • Address proof
  • Identity proof certificate
  • Income certificate
  • Recent passport sized photographs

Check Also – How To Choose The Best Health Insurance Plan

Comparison Of Best Online Term Plans In India

Term Plans Entry Age (Min / Max) Policy Term Minimum Sum Assured
LIC’s e-Term 18 / 60 Years 10-35years Rs. 25,00,000 for Aggregate category  Rs. 50,00,000 for Non-smoker category
Max Life Online Term Plan 18 / 60 Years 10 – 35 years Rs 25,00,000
BSLI Protect@Ease 18 / 55 Years 5-30 years Rs. 50,00,000
Tata AIA iRaksha Supreme 18 / 70 Years 10-40 years Rs 50,00,000
ICICI prudential – iProtect Smart Plan 18 / 65 Years 5-40 years Subject to minimum premium paid
PNB Metlife – Mera Term Plan 18 / 65 Years 10-40 years Rs. 10,00,000
Bajaj Allianz iSecure 18 / 60 Years 10 | 15 | 20 | 25 | 30 years Rs.250,000 for general category Rs.20,00,000 for the categories split by Preferred Non-Smoker1 , Non-Smoker1 & Smoker
Kotak Preferred e Term Plan 18 / 65 Years 10-40years Rs 25,00,000
HDFC Life Click 2 Protect Plus 18 / 65 Years 10 – 40 years Rs 25,00,000
AEGON Life iTerm Plan 18 / 65 Years 5 – 40 years; or upto 75years Rs10,00,000
Canara HSBC Life – eSmart Term Plan 18 / 70 Years 10 | 15 | 20 | 25 | 30 | 35 | 40 years Rs. 25,00,000
SBI Life – eShield  18 / Max:  1.For Level Cover & Level Cover with Accidental Death Benefit: 65 years  3.For Increasing Cover & Increasing Cover with Accidental Death Benefit: 60 years Min:  For Level Cover & Level Cover with Accidental Death Benefit: 5 years  For Increasing Cover & Increasing Cover with Accidental Death Benefit: 10 years MAX- 30 years Rs. 20,00,000/
Reliance Online Term 18 / 55 Years 10 | 15 | 20 | 25 | 30 | 35 years Rs 25,00,000
Future Generali – Flexi Term Plan 18 / 55 Years Min: 10 years , Max: Smoker: 65 years minus Entry Age, Non-smoker: 75 years minus Entry Age Rs. 50,00,000
Aviva I Life 18 / 55 Years 10 – 35 years Rs 25,00,000
Bharti Axa Life – eProtect 18 / 65 Years Fixed Policy Term – Minimum – 10 years, Maximum – 30 years Customised Policy Term – Up to 60 years, Up to 65 years, Up to 70 years, Up to 75 years Rs. 25,00,000
IDBI Federal – iSurance 18 / 50 Years 10-25 years Rs 50,00,000
IndiaFirst Life – Anytime Plan 18 / 60 Years 5-40 years Rs. 10,00,000
Edelweiss Tokio – MyLife+ 18 / 60 Years 10 | 15 | 20 | 25 | 30 | 35 | 40 years; & 80years minus Age at Entry Rs. 25,00,000

Read Also – How To Choose Best Home Insurance Plan

Term insurance policies are presented by almost all major insurance providers, it is most affordable policy which is generally various 10, 20, 30 years etc. If your life partner, kids and parents depends on you then you really need life insurance. We are almost mentioned online insurance selection procedure so you can acquire your policy by less effort.

 

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