OneAssure
Blogs
Life Insurance Guides
The Bima Sugam Manual: How to buy term insurance on India’s universal portal
The Bima Sugam Manual: How to buy term insurance on India’s universal portal
A practical guide to using India's new digital insurance marketplace to find cheaper term plans and manage them like your bank account.
Need advice tailored to you?
Looking for the right plan? You don't have to guess. Let us compare the fine print for you and give you an unbiased recommendation.
Need advice tailored to you?
Looking for the right plan? You don't have to guess. Let us compare the fine print for you and give you an unbiased recommendation.
The end of the insurance agent chase
You probably know the feeling. You search for a term plan online once, and for the next three weeks, your phone does not stop ringing. Five different agents from five different companies are telling you five different things. It is exhausting. Bima Sugam is designed to stop this. Think of it as the UPI moment for the insurance industry. Just like you do not need a separate app for every person you send money to, you no longer need to jump between twenty websites to find a term plan.It is a single, massive digital marketplace. You can see every insurer in India on one screen. No biased sales pitches. No hidden agendas. Just pure data. For a 28-year-old software engineer in Bengaluru or a 32-year-old teacher in Lucknow, this means finally having control over your financial protection without the noise.Your e-Bima account is a digital locker
Remember where your father keeps his insurance papers? It is usually a dusty blue folder hidden in a cupboard. If that folder is lost, the claim process becomes a nightmare. Bima Sugam fixes this with the e-Bima account. It works exactly like a demat account for your stocks. Every policy you buy stays in one digital folder. It is safe. It is accessible. It is paperless.When you open this account, you get a Bima Pehchaan ID. This is a unique number linked to your Aadhaar. It tracks every detail of your insurance life. Whether you buy a term plan today or a health plan three years later, everything sits under this one ID. No more digging through old emails to find a policy number when you are in a hurry.Lower premiums and the GST impact
Buying term insurance just got significantly cheaper. When you buy through the universal portal, insurance companies spend less on commissions and distribution. They pass these savings directly to you. You get the same life cover but at a lower premium. It is a win for your wallet. If you are looking for a ₹1 crore cover, the difference in annual premium can be quite substantial over 30 years.Adding to this, the recent removal of GST on term insurance premiums is a massive relief. Earlier, you paid 18% tax on your protection. Now, that money stays with you. For a young earner, this makes high-value protection much more affordable. You can now get a larger cover for the same budget you had last year. It is the best time to lock in a plan while you are young and healthy.The power of unbiased comparison
Most websites you visit today are designed to push specific products. Bima Sugam is different. It provides standardized term insurance products. These plans have clear benefits that are easy to compare side by side. You can look at the claim settlement ratios of different companies without any filter. This data is crucial. It tells you how many claims an insurer actually paid out last year.Use the portal to compare features like terminal illness benefits or waiver of premium options. Because the interface is neutral, you can make a decision based on facts, not a smooth-talking salesperson. Platforms like OneAssure often emphasize the importance of this transparency to ensure you are not buying a plan that looks good only on paper.Paperless buying and real-time claims
The days of signing twenty different pages are over. When you buy your term cover on the portal, you use Aadhaar-based e-KYC. It is instant. Your identity is verified in seconds. You can pay using UPI or net banking, and your policy is issued almost immediately. No more waiting for weeks for a physical document to arrive by post.The real magic happens during a claim. Filing a claim is now paperless. Your family does not have to run from pillar to post during a difficult time. They can upload documents directly on the portal. Most importantly, they can track the claim status in real time. No more calling customer care ten times a day to ask, "What happened to my file?" The portal shows exactly where the process stands.Updating your life in one click
Life changes fast. You might get married, move to a new city, or want to change your nominee. Usually, this means writing to every insurance company separately. On the Bima Sugam portal, you can update your contact details or nominee information across all your different policies in one go. It is centralized management. It ensures that your family is always protected and your records are always current without the administrative headache.This portal is not just a website; it is a shift in how India protects its future. It brings transparency to a space that was historically confusing. By removing the middleman and simplifying the paperwork, it makes term insurance what it was always meant to be: a simple, affordable safety net for the people you love.Frequently Asked Questions
Frequently Asked Questions
Get answers to common questions about our insurance policies and services.
1-5 of 6 FAQs
Talk to an OneAssure Insurance Expert
Get the best policy with proper guidance
Get on a Call Now.
Related Articles
Chat with PolicyPal
Get a free policy review
No pressure. No product push. Just honest advice.