How to Buy Term Life Insurance Online this is what i am going to show you with step by step instructions and will explain you in details.
I have already explained what is term insurance its benefits, types of term insurance and all the things which are relevant in this topic and I would like to show you how to buy the term insurance online.
Before starting I would like to focus few things on which everybody need to give a thought before buying any term insurance.
1. How good is the insurance company from which you are buying the insurance.
2. How much cover do you need
3. Check CSR(Claim settlement ratio) of the company from which you are buying the term insurance
4. Compare terms and conditions with various insurance companies
5. It’s advisable to take two term insurance from two different companies – separate polices if one claim is rejected we can have another
6. Do not miss the premiums(Some companies like LIC provides 30/15 Days grace period to deposit the premium other may not)
7. If you are smoker\Drinker the premium will be more.
8. Consider inflation in mind
9. Consider Add-ons (Meaning add critical illness, disability, accident cover in your policy if available)
I already explained these points however it’s better to consider them before buying the insurance policy as you will be investing your money in best possible manner and safely.
The documents required to buy a term insurance online are
1. PAN card.
2. Proof of age (passport/birth certificate/driving licence/PAN card etc.)
3. Proof of address (utility bills/ration card/bank account statement/voter’s ID card/passport).
4. Proof of identity (passport/voter’s ID card/Aadhaar card/driving licence/letter from a public servant or authority verifying identity).
5. Proof of income (Income tax return/employer’s certificate/Income Tax assessment order).
6. Recent passport sized photographs.
You can compare different insurance policies of different companies using the below sites
LIC E Term plan can be categorized in 2 ways. Aggressive and Non-smoker. If you are a smoker then you will be under aggressive category and in such a condition your maximum sum assured value can’t be more than 49 lakh. But if you are a non-smoker then you can enjoy higher life cover.
LIC E Term plan is a pure online term plan, one can’t buy this plan by visiting LIC office or from a LIC agent.
LIC will deduct the amount from you only for Medical test.
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