What are the Eligibility Criteria for Buying Term Insurance in India?

What Are the Term Insurance Eligibility Criteria in India?

What Are the Documents Needed for Purchasing a Term Plan?

Who Should Buy a Term Insurance?

FAQs about Term Insurance Eligibility Criteria

Is term insurance dependent on your salary? up-arrow

Your income proof is one of the documents that the term insurance providers consider. It helps the insurer determine the optimum coverage necessary as your income replacement. 

Can I buy term insurance for my spouse? up-arrow

Yes, it is possible to secure a term insurance policy for your spouse both individually or as a joint plan. If you have all the requisite documents then proceed with the application process online to save associated brokerage costs.

Why is eligibility necessary for term insurance? up-arrow

Insurers set different credentials to mitigate the risks associated with timely payment of premiums. Also, the insurer needs to assess the health conditions of the applicant to weigh the chances of a possible claim.