Though purchasing the ideal life insurance online may not be the most suited method for many people, it is perfect for those who are well-versed on the terms and different features available in a life insurance policy. Such insurance holders are able to comprehend and evaluate the various online policy plans and make the right decision in selecting the ideal life insurance for them. By doing a little research, not only can you choose the sum assured and term cover but also save substantial time and cost.

The process of availing an online policy is highly user-friendly and easy to follow, which involves the below-mentioned steps typically:

1. Decide the Platform
   Opt for the online platform that best suits your needs. You may either choose to buy your life insurance policy on the insurance company’s own website or through the aggregator’s website. The aggregators’ websites will allow you to compare plans, terms, riders, and any other benefits attached. On the other hand, you can get detailed policy information, including policy document and other company-specific discounts on the insurer’s website.
   
   
2. Fill in Your Personal Details
   Once you are relatively confident on which plan you wish to opt for, you can fill in your basic personal details such as name, date of birth, sex, contact information, smoking habits, life cover, and income-related details. Once you input these requirements, a suitable plan with its exclusive features, benefits and the premium amount shall be displayed. You can go through the features in detail and decide if it is the ideal life insurance for you. 
   
   
3. Premium Payment
   Post the online policy is finalized by you; you need to pay the required premium amount through the available payment modes. On successful payment, a confirmation mail shall be sent across to you on your registered email id. 
   
   
4. Complete the Proposal Form
   After the premium is paid, you have to complete a detailed proposal form to get a policy online. This will include information requirements such as medical history, family medical history, nominee information, existing life cover details if any, and personal details. 
   
   
5. Submission of Documents
   The life insurance premium is usually low when you are young and free of any medical problems. To ensure confirmation of the details submitted by you, you need to upload a list of documents online. This will be pertaining to your KYC proof, address proof, medical and health-related reports.
   
   
6. Medical Test
   Some online policy providers may mandate you to get a medical examination done at a medical centre suggested by them. This is based on the insurance provider’s decision and may not always be required. These selected centres will directly courier the reports to the provider.
   
   
7. Policy Issuance
   Upon due verification of the proposal form and reports, the insurance company decides whether they wish to issue the policy or not. If the same is agreed upon, the life insurance policy confirmation, along with the relevant documents, are couriered to the customer. 
   
   

The main advantage of getting a policy online is the ability to compare numerous plans and avail multiple offers offered by the insurers on their websites. Though, it even offers convenience and saves a lot of time and cost; the purchase of an online policy is an informed decision. You need to read, analyze, compare and clearly understand the right way of getting protection prior to buying the life insurance policy online. 

It is advisable that you avail for an ideal life insurance having coverage equivalent to at least seven times your annual income which would be adequately sufficient to meet the financial requirements of your loved ones in the event of any unforeseen eventuality. This will ensure you are neither under-insured nor over-insured, and your nominees’ unexpected financial requirements are comfortably met.

Know more about Term Insurance & Term Plan by visiting PNB MetLife website.