How do I buy Term Life Insurance on PhonePe?
- Tap Insurance at the bottom of the home screen. You can also tap See All under the Insurance section on the home screen.
- Tap Term Life Insurance under the Life Insurance section and tap Let’s Begin.
- Enter the required details and tap View Plans for a customised plan.
- Select your cover amount, cover till age, preferred plan, and annual payment as the payment type. Tap Select Plan.
Note: The premium amount you choose is the amount you will have to pay every year until your policy period expires.
- Enter your annual income and other details such as your PAN card number, email ID, organisation type/ nature of work, etc. and tap Proceed.
Note: You would have to make a few declarations and accept the terms and conditions
- Tap Pay and select your preferred payment mode to make payment.
- Once your payment is successful, you will have to fill in the application form and submit your KYC details.
Important: If required by the insurance provider, you will need to get medical tests done to get your policy issued.
- Tap Insurance at the bottom of the home screen. You can also tap See All under the Insurance section on the home screen.
- Tap Term Life Insurance under the Life Insurance section, and tap Let’s Begin.
- Enter the required details and tap View Plans for a customised plan.
- Select your cover amount, cover till age, preferred plan, and monthly payment as the payment type tap Select Plan.
Note:The premium amount you choose is the amount you will have to pay every month until your policy period expires.
- Enter your annual income and other details such as your PAN card number, email ID, organisation type/ nature of work, etc.and tap Proceed.
Note: You would have to make a few declarations and accept the terms and conditions.
- Tap Proceed to Payment.
- Tap Pay and Set AutoPay and enter your UPI PIN to make the payment.
Note: You can only set up an AutoPay using UPI for premium payments of upto ₹5,000 per month.
Important: Once your payment is successful, you will have to fill in the application fdrm and submit your KYC details.
Important: You will have to get medical tests done, if required by the insurance provider, to get your policy issued.
Learn more about who you can add as a nominee when buying this insurance policy.