Buying insurance online, be it life or general, is the most convenient and cost-effective way than buying one offline. And, when everything in our life can be done online, why not insurance? That’s why, keeping the convenience of an insurance buyer in mind, most of the insurance companies have made the entire range of their products available online. To avail this, one just needs to follow a simple process that will enable him/her to purchase life insurance online.

There are two ways to buy an insurance policy online: either by visiting the official website of the insurer or comparing plans through an online aggregator website. These websites allow the insurance seekers to compare policies on parameters such as premium, benefits, claim settlement ratio etc. This way, one can weigh the pros and cons of a policy and meets his/her insurance needs. Below are the steps:

1. Provide Basic Details

The insurance seeker has to provide his/her basic details in the application form such as name, date of birth, contact number, smoking habit (if any), income and expected life cover. Once this information is given, a suitable indemnity plan with benefits and features will be shown on-screen. Once done with going through the overall plan, the customer can select the right policy that meets his/her requirement and clicking on available suggested options.

2. Pay the Premium

The next step is to pay the insurance premium online. One can pay the premium using the available payment mode. Once the payment successful, a confirmation message will be sent to the registered contact number or e-mail id provided by the customer.

The basic procedure for issuing a policy also includes filling a life insurance proposal form. The customer needs to fill this form once the insurance premium is paid. This form requires the insurance seeker to fill relevant particulars like personal details, existing life cover (if any), health details, and finally, lifestyle and nominee details. Everything detail needs to be authentic.

Furnish Relevant Documents

Next, the customer needs to provide relevant documents, such as identity proof, address proof and health certificates. The ‘to-be-uploaded’ list of documents will be sent to the insurance seeker at the time of filling the form.

Pre-policy Health Test

Some insurers have made it mandatory for the proposer to undergo a medical test. In such cases, the customer needs to present the test report. If the insurance company suggests any medical centre for the test, the medical centre will directly send the test report to the insurer.

Issue of Policy

After verifying the proposal, including documents and medical test reports, the insurer will decide whether to issue life insurance policy or not. If the application is approved, its confirmation will be sent to the applicant along with the policy document.