How can I buy a policy?

Insurance is the subject matter of solicitation. IRDA allows insurance to be sold primarily through following:


  • Company websites
  • Buying on phone. It depends upon individual company
  • Agents representing an insurance company
  • Insurance brokers are allowed to sell products of more than one insurance company Banks, retail houses or any other commercial ventures which are channel partner of these insurance companies


  • Approach the insurance company with a duly filled up proposal form, through any of the above mentioned channels
  • Seek an approval from the company on the intention of underwriting your policy. (I.e. evaluating your risk and exposures. Risk involves consideration of material facts on the basis of which company will take a decision whether to accept the risk and if so at what rate of premium.)
  • Seek premium & other relevant details
  • Pay the premium and take premium receipt and cover note/risk held note
  • Wait for documents
  • Check for its correctness on receipt and store it carefully till the policy expiry date
  • Ensure that you renew the policy well in time, before the expiry of the policy