Buy & Compare the Best Term Insurance Plans Online - 5 Paisa Insurance

Term Insurance

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Benefits of Term Insurance

Ensures a
tension-free life

Secure your family
financially in your absence

Avail Tax

Why is it preferable to buy Insurance online?
The premium is comparatively lower when you buy a policy online. You also save the commission and other operational costs.
Ensures transparency as one can check the credibility of the insurers and the claim settlement ratio from the regulator’s website.
Online policy helps you compare features on different platforms and helps you take a decision based on accurate information.
Policy is issued instantly and you get the policy documents on your registered email id as soon as the payment is made.
How do I choose the best Insurance Company?


Research a bit about the insurance company in terms of their market share, claim-settlement ratio and the time they take to issue your insurance policy.

Add-on Covers

Don’t miss out on these value added covers such as Critical Illness, Accidental Death etc. These covers give you a lump sum amount in the event of a claim. Thus, it is advisable to go for a Critical Illness Cover, if you there has been a history of such diseases in your family. These will provide a much needed cushion in times of distress.

Cost Benefit

Choose the insurer who gives you maximum benefit in lowest cost. Make sure there are no other hidden costs involved.

Fast Issuance

The insurance company should be quick enough to issue the insurance policy as soon as the payment is made.
Frequently Asked Questions
  • How much term insurance do I need?
    Ideally, your total insurance cover should be 20 times your yearly income. The insurance cover should be able to take care of the debt and all other liabilities in your absence. It is advisable to choose a cover which will help your family with a regular monthly income to lead the current lifestyle they are living and fulfill their monthly needs despite paring off all the debt and liabilities.
  • Is a medical check-up required before buying term insurance?
    Usually, it is mandatory to get a medical check-up done before buying an insurance policy. Some insurance companies do not conduct a medical test, however, that is when the sum insured is low.
  • Is the policy with lowest premium the best?
    The policy with lowest premium may not always be the best. Low premiums may come with some hidden costs attached to it.
  • Is there a difference in premium if we buy insurance directly from the insurer’s portal?
    No. The premium amount does not vary if you buy insurance directly from the insurer’s portal. On the other hand, if you buy insurance from IIFL, you have an option of comparing different policies and choosing the best policy. You do not get this option of comparing policies if you buy insurance from the insurer’s portal directly.
Helping you buy insurance for more than 10 years
350,000 +
Happy Customers
60,000 +
New policies bought
₹ 138 Cr +
Premium collected last year