Owing to their low-cost premiums and high coverage options, term insurance plans have quickly become a popular investment for people across the country. Moreover, with the advancement of technology, term plans can today be availed online in the comfort of one’s own home. Therefore, while you may have decided on which term plan to avail, you might not be entirely sure whether you should apply online or offline.

Here are a few factors regarding offline and online life insurance term plans that can help you decide:


The primary difference between availing a term insurance online or offline is obviously that of convenience. In this regard, online life insurance plans excel since you sidestep all the inconveniences of signing up for insurance. There is no traveling to the nearest branch or waiting for agents.

You can simply submit documents, fill forms and apply online, quickly and without any hassles.


It might come as a surprise to some, but the mode of availing a term insurance plan – whether online or offline – also has an effect on the term plan’s overall cost. It is estimated that availing online life insurance plans can be cheaper than offline plans by as much as 30 to 50%. This is because online plans come without the intermediary costs linked to selling insurance plans offline, such as agent commissions.


While buying term insurance offline, you may or may not be presented with a few options by an agent. However, when looking for a term plan online, you are certain to find a variety of term plans and policy types yourself, right at your fingertips. You can compare a number of term plans, view the related terms and conditions, and make your choice only when you are satisfied.


Online insurance plans come with certain online tools such as premium calculators that help you determine your ideal premium before you even apply for the term plan. Moreover, once you purchase a term plan online, you gain access to an online customer portal and a 24×7 customer support system, ready to help you with any insurance-related queries.

Tools and support such as this might not be provided with offline term plans.

Other Factors

Apart from these factors, there are a few points that set online and offline term plans apart. Firstly, online term plans might be more transparent since you can directly do your research and find relevant information about an insurer before you start picking a plan.

You can even find stats such as their Claim Settlement Ratio, which indicates the percentage of claims the insurance company actually settles in a year. Easy access to information such as this provides online term plans an edge over offline plans.

All in all, if you wish to go the traditional way, you can always opt for a term plan offline. However, due to the various advantages that they offer, it might be more prudent to opt for online term plans. They are more cost-effective, more convenient and help you make a better choice.

Aegon Life offers an excellent online term insurance i.e. iTerm Plan that comes in 3 different variants as well as a number of rider options. It comes with a host of features such as life cover up to the age of 100 years and benefit options for terminal illnesses.