Documents Needed to Buy Term Life Insurance Online

2025-07-11

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Looking to opt for term life insurance but unsure if you have all the required documents? The process becomes simple and convenient if you have a readily available soft copy of documents for submission. It speeds up the application and approval, allowing a smooth beginning of the premium payment process. Furthermore, prior information about the necessary documents prevents last-minute hassle as well. Hence, to aid in streamlining your term life insurance application, here is a complete article dedicated to the required documents.

Key Takeaways

Keep soft copies of important documents ready to simplify and speed up the term life insurance application process.
You’ll need valid identity proof, such as Aadhaar, PAN, or passport, to verify your name and identity.
Age proof, Address proof, income proof, and medical reports help insurers assess your eligibility for specific policy terms.
A passport-sized photograph is also typically required for identification.
In case of lost documents, report to the insurer, file an FIR, and obtain duplicate or notarised copies for reprocessing.
For claim processing, key documents include the original policy, death certificate, claim form, and nominee ID proof.

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Documents Required For Term Life Insurance

Here are detailed insights into the essential documents for term life insurance:

Identity Proof

An official and government-approved identity proof is required to verify identity. The documents that can be submitted in this category include:

Aadhaar card
Driving license
Passport
Voter ID card
PAN card
An official letter from the public service or authority, with the attached photograph

The front and back copy of these documents is required.

Importance: It is the essential document to ensure the policy is taken under the name of the individual the company is interacting with. It also helps verify if the names and documents of the applicant aren’t forged under someone’s name or identity.

Age Proof

Age can be exhibited by the documents comprising the date, month, and year of birth. Identity proof documents are applicable for birth proof if they contain relevant details. Besides this, the generally considered age proof documents include:

Birth certificate
College leaving certificate/transfer certificate/migration certificate
Marriage certificate

The front and back copy of these documents is required.

Importance: These proofs are mandatory to identify the eligibility of the individual for the chosen policy. This is because there remains an age limit for opting for different types of life insurance policies.

Did You Know?

Many term policies are also “convertible,” as they can be converted into a permanent life insurance policy.

Investopedia

Address Proof

The valid government document that includes your residential address acts as the address proof. The documents that can be used in this category are:

Bank statement
Raion card
Passport
PAN card
Telephone bill
Electricity bill
Pension Payment Orders (PPO) of retired individuals
Municipal or property tax receipt
Allotment of accommodation letter issued by the employer and authorised by financial institutions, government bodies, PSUs, or others

The front and back copy of these documents is required.

Importance: It is used to verify if the applicant is truthful about where they live. Further, in case of any unfortunate event, finding the family members is easier with prior and accurate address availability.

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Income Proof

The proof of income must clearly show the source of income or the presence of funds in the account of the potential policyholder. The documents eligible for income proof are:

Salaried Individuals:

Past six months' bank statement, comprising the salary entry (in JPEG, JPG, or PDF format; Excel and Word formats are not acceptable)
Past three months' salary slip from the employer (in JPEG, JPG, or PDF format; Excel and Word formats are not acceptable)
Last two years’ income tax returns
Recent Form 16
Appointment letter with the latest month's salary slip (only in the condition that the applicant is a fresher or has recently changed jobs)

Self-employed individuals:

Last two years’ income tax returns
Previous two years’ audited balance sheet and profit and loss account by a certified CA
Tax-related documents like Form 26AS of the previous financial year

Housewives:

Past six months’ savings bank account
Past six months’ credit card statement exhibiting the credit limit
Past twelve months’ home loan repayment statement aligned with the bank statement, exhibiting a debit during the same period
Past twelve months’ SIP statement
Latest Insured Declared Value (IDV) of the car owned by the housewife
The term insurance policy document of the husband

Importance: It is required to verify the income stated by you while filling out the form or during the interaction with a company employee. It is also used to verify your capability to pay the premiums for the desired insurance policy.

Medical Reports

It includes the reports of the blood tests and other medical examinations conducted by certified laboratories.

Importance: The medical records serve as proof that you are not hiding the already existing medical conditions. It also serves as a clear record of possible medical risks in the future. The current health status helps identify the existing expenses, too. The records have an impact on the type of policy chosen by the applicant.

Photograph

A few copies of the passport-sized photographs are also required.

Note: You don't need to submit all the listed documents. Instead, one or two documents from each category will be sufficient to purchase the term insurance plan.

Documents Required to Claim a Term Life Insurance Plan

Providing the documents to claim the life insurance plan is possible both online and offline. The online methods include email and mobile app-based submission. The key documents to be provided during the procedure include:

Original policy documents (if available)
Original or attested copy of the death certificate of the policyholder issued by the local municipal authority
Death claim application form
NEFT mandate form attested by bank authorities, along with a cancelled cheque or bank account passbook
Credit and loan account statement (in case of group credit life claims only)
Nominee’s photo identity proof, such as PAN card, Aadhaar card, voter ID card, passport, or others.

Conclusion

The presence of the right documents with easy accessibility streamlines the term life insurance application process. The documents are required for different categories, such as verification of identity, age, proof, address, income, and physical health. Submission of accurate documents in each category is essential to ensure smooth and quick processing. Hence, get the mentioned documents ready. If you have alternative proof available, it is advisable to confirm with the insurer whether those documents are acceptable for policy issuance. For example, the iSelect Smart360 Term Plan from Canara HSBC Life Insurance requires standard KYC documents for processing. Ensuring accuracy and readiness of documents will help in smooth application.

Glossary

Sum Assured: The guaranteed amount paid to the nominee in case of the policyholder’s demise.
Rider: An additional benefit that enhances a term insurance plan, like critical illness coverage.
Term Insurance: Term insurance is a type of life insurance that offers financial protection for a set period.
Mutual fund: A mutual fund is a pool of money that is invested in stocks, bonds, and other securities.
Financial Dependents: Family members who rely on the policyholder’s income for their financial well-being.

FAQs

If documents necessary for term life insurance are lost, then the applicant must report the loss to the insurance provider and also register an FIR. Further, an applicant can choose to get a duplicate copy of the documents and affidavit for further processing.

The term life insurance offers a sum assured on the death of the policyholder. It provides coverage for a specific duration and does not include a cash value or savings component.

The term life insurance is suitable for individuals looking for affordable insurance policies that offer financial protection for a few years until the dependents become financially sound and stable. It is also suited for individuals in debt.

Disclaimer - This article is issued in the general public interest and meant for general information purposes only. The views expressed in this blog are solely those of the writer and do not necessarily reflect the official policy or position of Canara HSBC Life Insurance Company Limited or any affiliated entity. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the blog or the information, products, services, or related graphics contained in the blog for any purpose. Any reliance you place on such information is therefore strictly at your own risk. You should consult with a qualified professional regarding your specific circumstances before taking any action based on the content provided herein.