Step-by-Step Guide: How to Buy Term Insurance Online
hassle-free process. Follow the steps below and secure your family’s future today:
Step 1: Log In and Select a Plan:
Navigate to our official website and click on the ‘life insurance plans’ tab. Select the ‘term insurance plans’ option from the drop-down menu and explore the various available plans. Choose a term insurance that suits you best.
Step 2: Provide Required Basic Details:
Once you decide which plan to buy, proceed with the next step. Enter details like name, contact number, email address, etc., as asked in the application form. Please provide the correct email address, as it will receive all the correspondence.
Step 3: Enter Policy Related Information:
Your personal information offers a clear idea of your maximum life cover eligibility. Thus, after choosing life cover, select policy tenure and premium payment tenure. Further, select a premium payment option–monthly, quarterly, or annually, per your needs.
Step 4: Provide Additional Details and Documents:
After providing basic personal information and choosing policy-related terms, you will be directed to a new webpage. Here, provide additional details about your location, occupation, and education. These details can impact your life cover premium.
Also, you may have to upload certain KYC documents, like proof of identity and address. Recent medical reports and bank statements might also be expected to be uploaded.
Step 5: Customise the Plan and View the Premium Amount:
You can personalise the term insurance plan per your financial goals and requirements. For example, you can add various rider benefits that are available with the term plan. You can opt for an increased sum assured in case of accidental death. Alternatively, some plans may include optional benefits such as education support or income payout riders. These depend on product design and insurer approval.
Similarly, you can divide the death benefit partly to be paid as a lump sum amount and partly as regular income. After providing the necessary information, click on ‘Proceed’ or a similar option and the premium will be displayed based on the information you provided. Check your details and the premium amount, and proceed further.
