Life Insurance

Eligibility

The applicant must be within the insurer’s age limits, usually between 18 to 60/70 years
Applicants may need to undergo a medical checkup. Pre-existing conditions could affect eligibility or premiums.
Insurers may assess the applicant’s income and occupation to determine coverage options.
Life insurance is typically available to Indian citizens or residents.
The applicant must be of legal age, mentally sound, and capable of entering into a contract.

How to Apply?

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FAQs (frequently asked questions)

Why do I need life insurance?

It provides financial security to your family in case of an unforeseen event, covering expenses like loans, bills, and daily living.

What documents are required to apply for a business loan?

You’ll need:

Aadhar card, passport, voter ID, driver’s license, or PAN card.
Utility bills, passport, bank statements, or rental agreement.
Birth certificate, school leaving certificate, or passport.
Passport-sized photographs as per the insurer’s requirements.
Salary slip, income tax returns, or bank statements to demonstrate financial stability.
A recent medical checkup report or health declaration (especially for high-risk policies or older applicants).
If applying for a new policy while having an existing one, you may need to provide details of your current insurance.
Bank Account Details

What are the different types of life insurance policies?

Common types include Term Life Insurance, Whole Life Insurance, Universal Life Insurance, and Unit-Linked Insurance Plans (ULIPs).

Can I change my life insurance policy later?

Yes, you can make adjustments to your policy, such as increasing coverage or adding riders, depending on the insurer’s terms.

What is the process for claiming life insurance?

The nominee needs to submit the claim with necessary documents like the death certificate and policy details to the insurer for settlement.

How much life insurance coverage do I need?

The coverage should be enough to cover your family's living expenses, debts, and any future financial goals.

What is the minimum age to buy life insurance?

Most insurers allow individuals to buy life insurance from the age of 18 years.

Can I buy life insurance if I have pre-existing health conditions?

Yes, but it may affect your premium rates or result in exclusions depending on the condition.

What happens if I miss a premium payment?

Missing payments may lead to policy lapse or a reduced coverage. Some policies offer a grace period to make the payment.

How do I choose the best life insurance policy?

Consider factors like the policy type, coverage amount, premium affordability, and the insurer’s reputation.

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