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Online vs Offline Term Insurance: Which Is The Better Option To Buy

If you have any doubts about buying the term insurance online, here is a analysis on online term insurance vs offline term insurance in detail with their features, pros, and cons.

  • Dec 19, 2018

Life insurance can be purchased both online as well as offline via an insurance agent. While in the earlier days the online option was limited in use, today it is extremely popular. There are some people who are still skeptical about the safety and transparency of buying an insurance policy online. Which is better? Let us compare online term insurance vs offline term insurance in detail by studying their features, pros, and cons.

Comparing different policies

In the online vs offline term insurance debate, the main factor that works in favor of an online policy is the option to compare the different policies offered by different providers via aggregator websites. These sites let you compare policies, their features, their pros, and their cons. This makes it easier for you to decide on which insurance provider you want to go with. In case of an offline insurance purchase, you will have to depend on what your insurance agent says. The agent may sell policies of only a particular brand. There is no easy way for you to compare policies upfront.

Reaching out to the insurance provider

When you purchase your insurance policy online, you have a direct connection with the brand that is providing you the insurance. You can reach out to them anytime you want to before, during, and after the policy purchase via their helplines and they will gladly assist you with your queries. Insurance agents do not give you the same freedom. They may not be reachable at all times. Online works better here in the online vs offline term insurance comparison.

Fraudulent activities

When you purchase insurance online, the probability of a scam or fraud happening is negligible. You can go through the terms and conditions of the policy in detail on the website. For proof, you can keep printouts or screenshots with the date. On the other hand, when you are purchasing insurance offline from an agent, it is possible that he/she may manipulate a few terms and conditions to try and sell you a policy from a provider of their choice. It is extremely easy for them to also go back on their words leaving you dissatisfied with the policy. This is a matter of your hard-earned money and protection to your family. Hence, you must keep this in mind while doing an online term insurance vs offline term insurance comparison.


If you look at it, online insurance plans work out to be cheaper than agent promoted ones. This is mainly because you deal directly with the insurance provider. No agent is involved; hence, you need not pay any commission.

Claim settlement ratio

When you are buying term insurance online, you can view the claim settlement ratio of the provider. Comparison of this can help you decide on which to choose. However, if you are purchasing offline term insurance, you have to depend on the agent to give you information about the company and its settlement ratio. The information provided may or may not be true as the agent may have his own agenda to push the policy of a particular provider. Again major points to online in the online vs offline term insurance debate.


When you buy online term insurance, you get more flexibility. There are multiple options for you to choose from. You could also see information on the different riders you would like to add on to your policy and opt for the same. You need to do your own research, fill your own form, and generally, get involved at every stage of the process. This is good as you will be aware of everything that is happening. With offline insurance purchase, you are again depending on the agent to give you details on the various riders, fill your form, submit it, and get you your approved policy. There is more scope for human error and you are not completely in the loop for everything.

The debate of online term insurance vs offline term insurance continues. If you are not confident enough about buying insurance online, you could do your research, compare policies, finalize on the one you want to buy, and then maybe approach an agent. You will be more informed and will be able to make a better decision. If you are confident about an online purchase then it is ideal to go for it as it is hassle free, convenient, has a minimal scope of error, and is cost-effective.

No matter which mode of purchase you choose, it is recommended to do your homework well, compare policies, read the fine print properly, ask as many questions as you want, and sign the papers only when you are completely sure and satisfied.

Kotak e-Term

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  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435


- A Consumer Education Initiative series by Kotak Life

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