Everyone has to take life insurance whether it is life insurance, health insurance, term life insurance or vehicle insurance. In today’s generation it is has become important. It is safe and secure our lives. There are some important document are required to take insurance plan. We will discuss important things of eligibility criteria and necessary documents for buying insurance plan.
Eligibility criteria for buying insurance plan
For insurance may vary according to different insurance companies and insurance products. There are some basic criteria which have to be followed by everyone for buying insurance plan.
Age:
To take the insurance the age limit is minimum and maximum, usually who’s age in between 18 and 65 years. They are able to take insurance policy whereas there is age limit for health insurance as well.
Health status:
When you apply for life and health insurance, the insurance company will check your health condition. If you have a serious disease, the company may raise your premium amount or even reject your application.
Income:
For taking the insurance your monthly and annual income is important as well. Insurance company decide according to your income that you able to pay the premium or not.
Employment status: For some insurance products, your employment status also matters. If you work in a specific occupation or are self-employed, the insurance company may pay special attention to your application.
Required documents for buying insurance plan
While applying for the insurance you need to submit necessary documents. These documents collect the information of your identity, income, and health.
Identity proof:
You can submit documents for identity proof, such as a State ID card, Passport, or Permanent Resident Card. Additionally, you may also include a Certificate of Citizenship or Driving License.
Address proof:
You can use documents like a Utility bill, Cable TV or internet bill, Telephone bill, or Bank statement as proof of your current address.
Income proof:
You may need to provide a salary slip, income tax return, or bank statement as proof of your income.
Health certificate:
You need a Health insurance certificate to prove your life and health. You can submit medical check-up reports, a doctor’s certificate, and other relevant documents.
Photograph:
You also need to include a recent passport-size photograph with your insurance application.
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If you have any queries or doubts regarding the insurance products then feel free reach to us with below information.
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