Insurance Basics

Offline or Online Term Plans: Which is the Best Option?

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Term insurance is an important part of financial planning. It provides high coverage at low premium and is the best way to ensure your dependents have a secure future after your demise.

There are two ways of buying a term insurance plan: online and offline. Here are a few features of both the ways to help you decide which one is better for you:

  • Cost:

    Online insurance plans are around 40% cheaper than offline insurance plan. The saving of the cost is owing to the fact that there is no agent involved and you can directly book it from the website. This saves on the agent’s commission cost and hence the reduction in fee.
  • Facts disclosure:

    Online plans come with complete disclosure of facts since the person fills the forms all by himself. There is nothing hidden and he is aware of all the terms of the policies. In case of offline plans, the person is dependent on the agent and may skip a few important facts about the policy.
  • Sum assured:

    Online plans come with low costs and zero mortality and hence assure high sums. Not many offline plans offer a high sum assured and in case where the sum assured is high, the premium is also high.
  • Flexibility:

    Online plans are more flexible than offline plans. You can visit the website, choose a plan, pay the premium and the documents get delivered at your doorstep. The medical procedure and premium payment process is also very smooth. You will have to depend on the agent and his schedule for offline plans and visit the insurance company for payments and starting the process.
  • Rider benefits:

    Both the options have rider benefits available. In case of an online plan, you may miss out on the options or skip reading them. In case of offline plans, you can ask the agent to explain you all the rider benefits.

HDFC Life has term insurance plans best suited for your needs.

Some Basic Perks of Online & Offline Term Plans

When you purchase a term plan – whether offline or online, you can enjoy the financial security that comes with having life cover. Depending on whether you purchase your policy online or offline, you might also enjoy some additional benefits:


When you purchase a term plan online, you also enjoy:

  • Flexibility with regards to policy terms and premium payments
  • Lower costs and minimal paperwork
  • Higher settlement ratios
  • Lower chances of fraud by a third party


When you purchase a term plan offline, you also enjoy:

  • Higher fund values
  • Fewer paperwork hassles since the agent will take care of everything
  • Additional benefits such as agent discounts or illness cover

Online Term Insurance Plan

Online term plans are quick and easy to buy. Let’s take a look at all the advantages of purchasing a term plan online:

Several Options

When you shop online, you have the opportunity to browse around and look at every option. Additionally, online reviews and other aggregator websites can help you understand what kind of policy is ideal for your specific needs.

Direct Connect

When you buy a policy online, you deal directly with the brand. You do not go through agents or other third parties. The direct connection helps you establish a bond with the brand.

Fewer Fraud Fears

While dealing with agents, they may disappear with your payment and never issue the policy. Or, they issue you some fake policy. When you buy your term plan online, you never have to worry about this.

More Affordable

Terms plans, by nature, are incredibly affordable. But, when you purchase a plan online, it’s likely to be less expensive than its offline counterpart.

Can Be Customised

Most importantly, when you buy a term plan online, you can choose to customise it. Have a look at the additional covers that your selected insurance provider offers. You can get the additional benefits you need for a price that fits your pocket.

Offline Term Insurance Plan

Offline plans also come with a range of benefits, including:

Better Value

Many online articles or ads tell people they can enjoy life cover of INR 1 crore at just INR 500 per month. While this sounds great, some individuals may not require a 1 crore cover. When you purchase your plan offline, with the help of an agent or expert, they can talk you through what plan you need based on your finances. So, you could get better value for your money.

Additional Benefits

When you buy a plan offline, you might be able to enjoy some additional benefits, like critical illness cover, without having to pay a higher premium. Your agent might offer these benefits as a personal discount, something that is not available online.

Easy Paperwork

While purchasing a policy online, you have to fill out all the online forms by yourself. When you buy a policy offline, your agent will help look after all the paperwork. You just have to check it before signing.

What’s the Better Option?

There’s no easy answer to this question. You should opt for whichever option suits you better. If you’re sure about what you want and comfortable making purchases online, you can opt for an online term plan. On the other hand, if you’re confused about all the options available, an offline term plan might make more sense for you.

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