Securing Your Family Is Only A Few Clicks Away

Ever since the pandemic has forced people to spend their time indoors, many online businesses are booming because of it. Today, almost anything you need is made available on the Internet. From buying groceries, shopping for a wedding, making investments, and purchasing insurance – name it and the Internet will find you several vendors. 

However, when it comes to making investments and buying insurance, many people tend to follow the traditional process even today. Visiting the insurer and purchasing the policy in-person. Little do they know that insurers in India offer a majority of their products online, which means you can buy a life insurance policy from the comforts of your home.

When looking for life insurance in India, term insurance is a widely popular product among the people. The term insurance meaning is nothing but a policy that offers coverage for a specific term/period. Ideally, the policy only provides a lump sum benefit to the beneficiaries in case of your premature demise. 

The primary objective of the term plan is to secure the financial future of your loved ones in your absence. However, insurers have enhanced the scope of term insurance plans with several rider benefits. Despite enhanced coverage, term insurance remains the most affordable life insurance product in the market. 

In fact, you can buy term insurance online anytime, anywhere. Follow the steps given below to select the right term insurance policy online. 


  1. Choose your insurer

The best way to narrow down your list of insurers is by comparing their claim settlement ratio. The claim settlement ratio shows the percentage of claims settled by the insurer against the number of claims received by them in the said financial year. 

It is advisable to choose an insurer with a high claim settlement ratio as it means that the insurer will be able to settle your claims conveniently in the future. While you are at it, also take into consideration the solvency ratio and persistency ratio of the insurer.

All these statistics will give you insights on the reliability of the insurer and help you choose the right one.

  1. Determine your coverage and policy tenure

When term insurance plans in India, you should determine the coverage amount. The beneficiaries will receive this amount in case of your untimely dismissal. Hence, the coverage amount should be sufficient to help them sustain their lives financially in your absence. Ideally, the amount needs to be 15 to 20 times more than your current annual income.

Also, choose an online term plan with extended policy tenure. This is because basic term plans do not provide any benefits if the insured outlives the term. It is recommended to select the tenure depending on the number of years you plan to keep working. 

  1. Select rider benefits (if needed)

Insurers in India have enhanced the scope of the policy with several rider benefits. Some of these include –

  • Critical illness benefit
  • Return of premium benefit
  • Waiver of premium benefit
  • Accidental death benefit
  • Income benefit

It is wise to select only those rider benefits that you think may come in handy in the future. Also, note that every rider benefit you opt for will increase the term insurance premium simultaneously.

  1. Compare term insurance premiums

Now, before you buy term insurance online, it is best to compare different policies online. You can use factors such as premiums charged, converge of the policy, exclusions, claim settlement ratio, rider benefits, etc. for comparison. Based on your evaluation, you will be able to choose a term plan that best suits your needs.

  1. Buy the policy online

Buying term insurance online is a hassle-free process. All you have to do is follow the steps given below –

  • Visit the insurer website and go to the term insurance section.
  • Select the type of term plan you need and the coverage amount.
  • Choose the rider benefits as required.
  • Review the policy terms and conditions before proceeding with premium payment.
  • Make the premium payment online.
  • Upload the necessary documents on the portal.
  • The insurer will assess your application and issue the policy in no time.


Term insurance is a popular life insurance product in India. It is simple to understand and buy the policy online. Visiting the insurer during these dreadful times can be risky for many people. However, the need to secure the financial future of the loved ones remains a concern. So, visit your insurer’s website and buy term insurance online with ease.