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How to Buy Life Insurance Policy Online?

Compare plans, check eligibility, and complete the process to buy life insurance online securely and confidently.

Written by : Knowledge Centre Team

2026-01-29

890 Views

6 minutes read

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With over 560 million internet users, India has the second highest connected population in the world. Rising internet penetration has given birth to a booming digital economy. Large portions of critical sectors have been digitised. The insurance sector too has adapted to the digital age. It has led to profound changes in the way life insurers interact with customers.

A few years ago, buying a life insurance policy would mean standing in queues and multiple visits to the insurer’s office. Bulky documentation had become the hallmark of the buying process. With the advent of digital technologies, all that has changed. One can easily buy a life insurance plan in a few clicks of the mouse. Before diving into the details, let us take a look at what is life insurance.

Life insurance is a contract between an individual and an insurance company, under which the insurer promises to pay a pre-decided amount to the person chosen by the insured in the event of the insured’s death. The execution of the contract is conditional on the policyholder making timely payments to the insurance company, which is known as premiums. All life insurance plans pay death benefit, but some life insurance plans also pay maturity benefits. If a policyholder outlives the policy tenure, the insurance company pays a lump-sum amount as maturity benefit. The amount can be used to fulfil life goals like buying a house or children’s education.

Also Read - Principle of Insurance

How to Buy Life Insurance Online: Step-by-Step Guide

  • Buying Options: There are various types of life insurance plans available in the market. Almost all insurance companies operating in the country have made some of the life insurance plans available online. Buying a policy online is convenient and simple, but where should one buy from? Online life insurance plans can primarily be bought in two ways. You can either buy it through an aggregator or directly through the insurance company’s website. Aggregators list policies from different insurers at the same place while exclusive websites will have life insurance plans from a single insurer. Aggregators may also levy a nominal fee for their services, which may slightly increase the cost of the policy.
  • Finalise the Product: Once you have made up your mind to invest in a life insurance plan, finalise the type of life insurance. If you just need a life cover without any maturity benefit, opt for a term plan. One can choose other life insurance plans like endowment plans, unit-linked insurance plans or savings plans, if the aim is to receive a lump-sum amount at maturity.
  • Provide Basic Details: After finalising the medium of purchase and the type of policy, you will have to provide your details. Fill in basic details like name, date of birth, smoking habits, contact number and the amount of coverage sought. Depending on your age, smoking habits and the coverage sought, the premium will be decided.
  • Premium Payment: The premium is a critical aspect of a life insurance plan. If you fail to pay a certain number of premiums, the policy will lapse and you will not get any benefits. After providing the details, the premium will be displayed. Pay the premium online to purchase the policy. The life insurance company will send a mail to confirm the payment.
  • Proposal Form : Post payment of the premium, you will have to fill a detailed life insurance proposal form. It will ask you for personal details, medical details, nominee details and lifestyle details. The process of uploading relevant documents comes next. You will have to provide documents such as address proof, identity proof and health-related documents. The list of documents to be uploaded is given after the proposal form is filled.
  • Medical Examinations : If the insurance company is satisfied by the documents provided, it will issue the policy. In some cases, the insurer asks for a medical test. If asked, you will have to visit a medical centre for a medical examination. After the verification of the documents and medical report, the insurance company will decide the issuance of the policy.

Conclusion

 While a number of insurance companies offer online services, not all have a seamless process. If you invest in Canara HSBC Life Insurance iSelect Smart360 Term Plan, you will get a comprehensive coverage along with the convenience of online buying. The iSelect Smart360 Term Plan has multiple coverage options and can be customised to meet the customer’s needs.

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Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.

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Life Insurance - Top Selling Plans

We bring you a collection of popular Canara HSBC life insurance plans. Forget the dusty brochures and endless offline visits! Dive into the features of our top-selling online insurance plans and buy the one that meets your goals and requirements. You and your wallet will be thankful in the future as we brighten up your financial future with these plans.

Family Shield: Enhanced Protection

iSelect Smart360 Term Plan
  • 3 Plan options
  • Life cover till 99 years
  • Steady income benefit
  • Block your premium at inception

Start Young, Pay Less, Stay Secured

Young Term Plan
  • Life cover till 99 years
  • Coverage for spouse
  • Block your premium rate
  • Covers 40 critical illness

Fixed Returns, Zero Risks & Worries

iSelect Guaranteed Future Plus
  • 4 Plan options
  • Life cover + Guaranteed benefits
  • Accidental death benefit
  • Premium protection cover