Difference between online and offline term insurance plan ?

POSTED BY Kalyan ON March 22, 2014 4:07 pm COMMENTS (7)

i want to take term insurance. please explain me what is difference between online and offline term insurances and which one would be better if i want to take it for 20 years.

7 replies on this article “Difference between online and offline term insurance plan ?”

  1. Hemanth Chandra says:

    So sad to hear that the employees of the insurance company are charging extra for doing paper work, where ideally is their part of work and they should not charge customer. 🙁

  2. Raja says:

    online term plans are cheaper, but even company officials will scare you into going with agents saying that the processing will be smoother. E.g. HDFC Click2Protect employees themselves charge 300-400 extra on the premium for doing the paper work. The poor customer is emotionally blackmailed in thinking that his claim might get rejected in case he buys policy online and there is no employee code associated with it.

  3. curiousraj says:

    Kalyan, Hemanth is right. Moreover there would not be much different if you choose 30 (till your retirement) years of policy term.

    1. Kalyan says:


  4. Hemanth Chandra says:

    Term insurance is to be taken to help your family at the time of your absence.

    It should be taken till the age you earn.

    Suppose you retire @ the age of 60 (after which there will not be any income for you), so you should take term insurance at least till the age of 60.


  5. Hemanth Chandra says:

    Dear Kalyan,

    The premium will be less if you take an online term insurance as there will not be any agents in between. The claim settlement will be same whether it is an online or offline.

    Term Insurance should be taken till the age you earn income. It varies from person to person.

    How did you choose 20 years?


    1. Kalyan says:

      thanks for ur information.
      actually i have taken the home loan for 20 years,so i am considering it as safe period.please suggest me the good idea.

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