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All that you need to know...


Frequently Asked Questions

How much is the income eligibility for term life insurance?

Income eligibility for term life insurance can vary based on the insurance company you are associating with. A term insurance policy protects to your loved ones in case of unfortunate circumstances. You pay regular premiums to avail of the lump sum payout. When you buy a term insurance policy, you will be required to provide a few documents that will help the insurer to assess your eligibility.

Income Eligibility for Buying a Term Plan

You may be asked to share your financial details to understand your premium paying capability. Listed below are a few documents related to your income that may be required when applying for a term insurance policy:

  1. Slip of the last 3 months’ salary
  2. Latest Income Tax Returns
  3. Form 16
  4. Bank statement for the last 6 months

However, the final list of documents that are required will be shared by the insurance company depending on the type of life insurance policy you are interested in buying.

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