All You Need To Know About Online Term Insurance Plans In India

·5 min read

While Covid-19 chaos may have opened our eyes to unprecedented affairs, the reality is, life has always been unpredictable. If we wish to plan our tomorrow, we need to take the steps today. We need to ensure that there is a steady income for those who are dependent on us, even in the unfortunate event of us not being alive. How do you ensure that? One of the answers lies in >Term Insurance.

Term insurance is an assurance that there lies a financial certainty even in the face of uncertainty.

Why do you need term insurance?

Term insurance is a product which we need, but may not realise the importance of it. The need is that our loved ones and financial dependents may not have a fall-back option in case a tragedy strikes. While an essential financial planning box is ticked when you get a term insurance, there are also some other benefits that you should take note of.

Here are some of the benefits that may help assert this view even further:


Term insurance comes with a lot of flexibility. Select any available offline or >online term plan options and customize it as per your needs.

#Low premium

The premium for term insurance is lower than many other life insurance products. This low premium allows you to avail an optimal sum assured so that you can ensure sufficient financial security for your family in your absence.

#Secured finances

While alive, a person is equipped to bear his own liabilities. However, upon death, it befalls their kin. Term insurance makes sure that the kin is secured financially to pay off those sudden dues, if at all, and are not left in the lurch. One should ensure that the amount of sum assured chosen is sufficient to cover their life goals and liabilities while planning their financial security.

#No commission

Did you know that online purchase of term insurance comes with the benefit of no commission? Yes. That means you would be saving on your premium while purchasing online.


Online purchase of term insurance plans comes with a certain discount as the intermediary costs are eliminated. There is a two-fold benefit here. Not only are you insuring your families secured future, but you are also saving up on time and some money while purchasing the plan online. Bajaj Allianz Life Smart Protect Goal is a good example here. Online purchase of the plan gives the insured person a discount of 3%^.

There are other add-ons on features that the plan provides as well, like premium waivers and cover for those whose livelihoods might be affected by Accidental Total Permanent Disability (ATPD). Online term insurance plans not only provide specific solutions that suit your life stage and your family's aspirations, but the added benefits make them one of the very cost-effective option too.

Apart from these general benefits, you also need to know your own needs. What is your need? Once you have figured that out, choose your own term insurance plan. You can take the help of an agent or an insurance consultant and get an offline plan, but there are online plans available as well, which may come with the advantage of no commission and additional discount.

The term insurance market in India is expanding. There is as an element of innovation in insurance. With the benefits of online term insurance purchase, a new wave of young buyers is coming in.

Time To Go Online

The world is going digital. Insurance too is not an untouched industry.

One of the biggest reasons behind the variety in term insurance plans offered in India is the tech innovations. Online >term insurance calculators have streamlined the buying of term insurance plans as it helps one understand how much premium they would have to pay for a certain cover so that they can plan accordingly. Not only do these new instruments give customers the power of choice, but they have also made the online buying experience easier and more transparent. Customers now have access to consumer reviews and a step-by-step breakdown of the online term insurance buying process, right from the outset. Thus, they can now go from browsing through term insurance products to choosing and buying a term insurance plan that works for them, within a few clicks.

Are you Ready to Get Financial Protection against An Uncertain Future?

Term insurance is one of the answers to your underlying question.

Today, as we are struggling to survive against the current pandemic, we have enough time to think over our life choices and make an informed insurance decision. Given the social distancing and lockdown norms, online insurance makes it easy to implement those decisions. Online term insurance plans, like the ones offered by Bajaj Allianz Life, have been designed to cover all your family financial needs, in the event of your untimely demise.

We are in a world which is living in doubts, at present. Let's ensure at least our futures are insured and plan for a Term insurance to secure our loved ones.

^Discount is available for regular premium and limited premium payment frequency under all variants of this product.


Image credits: Bajaj Allianz Life Insurance

This is a partnered post.

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