Buying Online Term Plans- Things to know

Insurance companies offer individuals the facility of buying online term insurance through company websites. The plan offer the benefit of lower premium rates for the insured. The insurance provider can pass on this benefit to investors because online mode saves the distribution costs.

APPLICATION FORM: The buyer must fill in the online application form and choose the sum assured as well as policy term. The premium applicable to the individual is disclosed based on age, gender, policy term and sum assured.

HEALTH CHECK-UPS: The term insurance policies bought online may not require a health check-up for certain age groups, non-smokers, non-tobacco users […] Read more