Process of buying online term insurance involves the following steps: Log on to the company website and click on the online insurance Enter the sum assured Choose the policy term Choose the premium paying term You can use the premium calculator to find out the premiums Select your bank to make the payment You will see an acknowledgment on a transaction Within a period of usually three days, the insurance company will come back to you on whether or not your insurance policy has been approved by its underwriting team Subject to approval you will receive a soft copy of the policy which will be followed by a hard copy