How to Buy Term Insurance Online 2026

About This Guide

Term Insurance is pure life protection: pays death benefit, no maturity benefit. Cheapest insurance. ₹1 crore cover for ₹500-1500/month. Major insurers: HDFC Life, ICICI Pru, LIC, Max Life, Tata AIA. Online 30-40% cheaper than offline. Buy at age 25-30 for lowest premium. Tenure till age 60-70.

Eligibility Criteria

• Indian citizen 18-65 (varies)
• Sum assured ₹50L-10Cr
• Income proof for ₹50L+ cover
• Medical fitness
• Non-smoker preferred (40% premium reduction)
• PAN mandatory

Documents Required

Keep these documents ready before starting application. Missing documents = delayed approval.

• Aadhaar
• PAN
• Address proof
• Income proof (Form 16, 3 ITRs)
• Bank statements
• Photo
• Medical reports

Step-by-Step Application Process

Follow these steps in order. Each step is critical - skip none.

Key Benefits

• Highest sum at lowest premium
• ₹1Cr for ₹500-1500/month
• Tax 80C ₹1.5L deduction
• Death benefit tax-free 10(10D)
• Online 30-40% cheaper
• Family security
• Long tenure till 65-75

What Happens After Application?

7-15 days policy. Pay premium yearly. Inform family. In death, family files claim with policy bond + death certificate. ₹1 crore in 30-90 days.

Frequently Asked Questions

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