Nowadays, for many people in India, choosing a term plan online comes with endless research and uncertainty. One site lists lower premiums, another promises better riders, and somewhere in between, you wonder if you are making the right choice. Although there are many plans to choose from, the lack of a single reliable source often leads to delays or missed opportunities.
The Bima Sugam portal is a combined effort by the Life and General Insurance Council and is expected to go live in phases, with rumours pointing to a mid-December 2025 launch for its first phase. Once operational, it will allow you to explore, compare, purchase, and manage insurance policies through a unified platform and offer several other benefits.
Let us understand how this upcoming platform works and why it could become a trusted tool for term insurance plan buyers.
Key Takeaways
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Bima Sugam is set to become a centralised digital marketplace for all types of insurance services in India. It has been designed with the vision of bringing life, general, and health insurance under one roof. With a clear aim to end the hassle of visiting multiple websites, it eliminates the need for agents to compare options. As a buyer, you get a single portal for every step of the term insurance plan purchase (search, compare, buy, renew, and claim insurance).
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The initiative has received a go-ahead from the IRDAI (Insurance Regulatory and Development Authority of India). The features of this platform that position it as a game-changer and could transform how we perceive and buy insurance are:
The Life Insurance Council was set up under Section 64C of the Insurance Act 1938.
Source: lifeinscouncil
Bima Sugam is about transforming the way insurance is bought and serviced in India. For all types of term insurance plan buyers, the platform will make the process simpler, faster, and more transparent. The key benefits to expect from this platform are as follows:
The platform will run on an integrated digital ecosystem. This approach eliminates repetitive KYC processes and ensures you have all your policy details in one digital locker.
Here’s how a typical purchase journey might look once it goes live:
Step | What You Can Do on Bima Sugam |
Sign in | Log in using your Aadhaar-linked mobile for quick verification. |
Search & Compare | Enter your requirements, view term plans from different insurers, and compare benefits, premiums, and riders. |
Customise | Choose add-ons like critical illness cover, waiver of premium, or accidental death benefit. |
Buy & Pay | Make payment through net banking, UPI, or debit card instantly. |
Policy Management | Access your e-policy, pay renewals, or file claims, all from the same dashboard. |
Yes, our official Canara HSBC Life Insurance website already provides a user-friendly purchase system for different term insurance plans. You can explore plans, use online calculators, and complete the purchase from the comfort of your home.
With the arrival of Bima Sugam, you will also be able to view and compare our term plans alongside other offerings on a single trusted platform. This will make it easier for you to see how our plans stand out in terms of benefits, affordability, and service commitment.
Our existing online system will continue to serve customers who prefer direct interaction with the company. This dual availability ensures that buyers can choose the route they find most convenient.
Bima Sugam will work like an e-commerce platform for insurance. You will be able to search, compare, shortlist, and purchase directly through the portal. A major advantage will be the inclusion of claim tracking and grievance redressal in the same interface. This will reduce dependency on multiple customer service channels. Hence, the short answer is yes.
Term insurance buyers often struggle with scattered information, complex policy documents, and unclear premium breakdowns. With Bima Sugam, everything from premium comparison to benefit illustrations will be presented in a standardised format. This reduces the risk of misinterpretation and allows you to focus on selecting the right coverage.
Moreover, buyers in rural areas or smaller towns will benefit from the simplified access. Many potential policyholders avoid online purchases due to a lack of trust in third-party aggregators. A central government-supported portal could bridge this gap.
Even with a unified portal, the responsibility of choosing the right term plan still lies with you. Here are the key points to keep in mind.
Bima Sugam represents a shift towards greater transparency and convenience in India’s insurance sector. By December 2025, term plan buyers will be able to explore, compare, and purchase policies without the confusion of multiple websites or unclear details.
While the platform will simplify the search and purchase process, it remains essential for you to assess your needs carefully. Look beyond just premiums and consider long-term financial security.
For those exploring reliable term insurance plan options, we will be available both on the Bima Sugam portal and directly through our website. This way, you can experience convenience while still enjoying personalised support from a trusted insurer.
Get insured today to enjoy a secure tomorrow.
The Bima Sugam portal aims to provide a unified digital marketplace where customers can compare, purchase, and manage different insurance policies. By centralising life, health, and general insurance products, it reduces confusion, speeds up decisions, and ensures transparency, helping customers make informed choices without switching between multiple platforms.
No, Bima Sugam will host life, health, and general insurance plans from various insurers. This means you can compare a term plan, a mediclaim policy, or even motor insurance in one place. The portal’s integrated structure makes it easier to explore diverse products without visiting multiple websites or agents.
Term insurance buyers will be able to compare premiums, coverage, claim settlement ratios, and rider benefits across multiple insurers instantly. This removes the hassle of visiting individual company websites, shortens decision-making time, and ensures they get the best match for their needs based on reliable, verified information.
Yes, the platform is expected to be accessible via both desktop and mobile devices. This ensures customers can browse and purchase insurance policies on the go, track their plans, and make renewals or claims directly from their smartphone without relying on physical paperwork or office visits.
Bima Sugam will allow customers to initiate claims directly through the portal, ensuring smoother coordination between insurers and policyholders. The platform will track claim status in real time and aim to reduce delays by centralising the documentation and communication process.
Yes, the portal’s transparent comparison and verification system is designed to prevent mis-selling. Since all policy details, benefits, exclusions, and costs will be standardised and visible upfront, customers will have access to clear, unbiased information before making a decision.
Yes, once operational, the portal is expected to allow linking of existing insurance policies for easier management. This will help customers track premiums, renewals, and claims from one dashboard, regardless of whether the policy was purchased online or offline in the past.
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.
Canara HSBC Life Insurance offers online term insurance plans to secure your family financially in your absence.
