Eligibility Criteria for Buying a Term Insurance Plan
Buying a term insurance plan may help your family with financial security if something happens to you. However, you need to meet certain eligibility criteria to buy the term insurance plan. They help insurers determine the suitable coverage and premium amount for you . Understandin g the eligibility criteria may help you get your documents and information ready in advance. This article guides you through the detailed eligibility criteria for buying the term insurance plan. Age Requirements and Residency The minimum age to buy a term insurance plan is usually 18 years. The maximum entry age often goes up to 65 years, depending on the insurer. Moreover, you must be an Indian citizen or a Non-Resident Indian (NRI) to buy a term insurance plan. Some insurers may also allow Persons of Indian Origin (PIOs) to apply. In general, proof of citizenship or residency status is also required to complete the application process. Income and Occupation To get the best term insurance plan , you usuall...
