Can I increase my sum assured by paying a higher premium after I buy the Term Life policy on PhonePe?

No, you currently don’t have an option to increase your sum assured by paying a higher premium after you purchase the policy. You can if the policy provides Life Stage Benefit, you can increase your cover during those stages)

However, you can contact your insurance provider for more details on this:

• MaxLife
  Email: [email protected]
  Phone: 1860 120 5577
• HDFC Life
  Email: [email protected]
  Phone: 1860 267 9999
• Kotak Life 
  Email: [email protected]
  Phone: 022-66057280 
• Tata AIA Life
  Email: [email protected]
  Phone: 1860 266 9966
• Aegon Life Insurance Co. Ltd
  Email: [email protected]
  Phone: 1800-209-9090
• ICICI Prudential Life Insurance Company
  Email (pre-purchase):  [email protected]
  Email (post-purchase):  [email protected] 
  Phone: 1860-266-7766 
• PNB MetLife
  Email: [email protected]
  Phone: 1800 425 6969

Learn more about how the premium is calculated for Term Life insurance.