Online premiums are cheaper than offline/those bought from agents and are quite easy to avail as well. Of late, online term plans have gained immense popularity due to their easy access. Some insurance companies are even offering discounts on online purchase of term plan policies as it saves companies a lot of labour and man-hours; also, there is savings on documentation and paper costs. Another benefit of buying online is the easy comparisons that you can do. There are dedicated portals only selling various kinds of insurance policies from all major companies. These portals allow you to compare all policies, have a telephonic helpline to assist you in making decisions, and then also help you in buying online from your chosen brand.
No, there is no catch in it and these portals (there aren’t many, by the way) do not charge you for their services. Their revenue model is the set commission they get from the brands for each policy sold through them. Considering their commissions are almost the same from each brand, they are not biased and help you in buying best-suited policies.