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Online Vs. Offline Term Insurance - A Comparison

Updated On Jul 19, 2021

A term insurance policy provides an umbrella of financial protection to your loved ones in the face of an unfortunate event. Moreover, it is advisable to purchase a life insurance policy at a young and healthy age when you start earning stable income to get high coverage at low premium amounts. You can either submit your proposal form of a term life insurance policy in the insurance provider office, i.e., the offline method or through the online portal and website. The following article provides a detailed comparison between both modes to help you choose the best one for yourself. 

Online Vs. Offline Term Insurance

A comparison between the online and offline term insurance policy is given below.

1. Convenience

An online term insurance policy is a lot more convenient than an offline term life insurance policy which requires extensive paperwork and commission payment. Moreover, the administration and agent’s service costs saved in the online term insurance policy is offered as discounts to the life assured, resulting in a win-win situation.

2. Sum Assured

The sum assured offered on an online term insurance policy is higher than the offline term insurance policy. This is because a high premium rate due to the agent’s commission is charged in the offline term insurance policy.

3. Flexibility

The agents have to meet often with the life assured to choose an appropriate offline term insurance policy. In contrast, terms and conditions, sum assured offered, and approximate premium charged on different policies can be compared on online websites before choosing the best plan for yourself.

4. Frauds

As mentioned above, you can easily compare and understand the terms and conditions of different term life insurance policies online, whereas, in the offline mode, you have to rely on an agent who might or might not disclose all the information about the plan. Therefore, there are low chances of getting conned in the online mode. 

5. Claim Settlement Ratio

You can easily check and compare the claim settlement ratio of different insurance companies in the online mode to choose the reliable insurer with the highest percentage. In contrast, the agent can manipulate the facts and mislead you regarding the credibility of their company. 

What Plan Should You Choose?

The points mentioned above show an online term insurance plan in a better light; however, it is very much possible that an offline term insurance policy would be more beneficial for you than an online term insurance policy. Hence, it is advisable not to choose a plan on mere recommendations or under anyone’s influence. Instead, you can make a pros and cons list, like the one made above, to compare different options according to your needs. 


You can choose either term insurance policies that suit your requirements after consulting a credible financial advisor or an entrusted insurance agent.  Moreover, it is advisable to truthfully disclose all the necessary personal, medical and professional details to get the best term insurance policy with maximum benefits. 

Also read - Is It Good to Buy a Term Insurance Plan in 2021?

Disclaimer: This article is issued in the general public interest and meant for general information purposes only. Readers are advised not to rely on the contents of the article as conclusive in nature and should research further or consult an expert in this regard. 

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