Myths and Facts when Buying Term Insurance Online

The Internet has influenced our lives so much, that it seems almost impossible, for most of us, to survive without it.

1:17 min read

The Internet has influenced our lives so much, that it seems almost impossible, for most of us, to survive without it. However, when it comes to buying term life insurance online, people have certain myths that make them reluctant. Let’s attempt to answer some of them:

Myth 1: Buying term insurance online is complex.

Fact: Most insurance websites are extremely user-friendly and interactive. If you have all the information handy, filling up an insurance proposal form online takes less than 20 minutes.

Simply log on to a site like and start by exploring Term Plan options and creating a free quote. All the information you need to make a decision is easily available.

Myth 2: Claim settlement is difficult for online policies.

Fact: The claim process for both offline and online term life insurance, is the same. Insurance companies offer multiple touch-points through which you can intimate them about the claim. You do not need to rely on any intermediary for the same.

Myth 3: You need to be Internet savvy to buy insurance online.

Fact: You don't need to be Internet savvy, just Internet literate. You only need to have basic computer and Internet knowledge, like how to log on to a website, fill an online form, make an online payment, and upload documents. The websites are self-explanatory and the navigation is simple. You can also find supporting FAQs section to help you through the process. Also, at any point, you can contact a customer service professional, through a toll-free number.

Myth 4: You only get limited options, when you buy online term insurance.

Fact: On an online platform, you have the freedom to check all the available insurance policies, and pick the one that suits you best. You can use compare features available online to get a detailed, feature-by-feature comparison for the plans you choose – a facility that might not be available offline.

Myth 5: Sharing personal information online is not safe.

Fact: The websites of insurance companies are built to comply with the Industry standards of Information security. For example, Max Life Insurance has maintained a standard which is consistent with the International Standard ISO/IEC 270001 on “Information Security Management System”. The company regularly updates its security policies and security measures to ensure a high level of security at all times

Max Life Online Term Plan Plus. A Non-participating, Non-Linked, Term Insurance Plan (UIN - 104N092V03)

ARN: 16052019/KC4

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