Term Insurance might be cheaper than you think

Term insurance plans unlike money-back plans, do not have a fund that needs to be invested and monitored. Hence, there are no portfolio or money management related expenses. This allows insurance companies to offer term insurance plans at highly competitive premiums.

Since term insurance is a simple insurance plan, it makes for a quick and hassle-free online purchase. The insurance company can save distribution charges for online sales, less paperwork, logistics, and people cost and pass it on to the customers, making term insurance affordable.

Online purchase also gives you the opportunity for premium comparison between plans offered by various companies and within a company as well. In fact, people who have recently purchased an offline term plan can use this premium calculator and compare the quote with their existing policy and consider moving to an online term insurance plan.