Documents required for term insurance

1. Documents required for term insurance

2. Plans for Term insurance • Plans for term insurance are inexpensive and simple to purchase. When you apply for term life insurance, the insurance provider requests some personal information and supporting documentation. The statement of your income is one such element. Before approving your insurance application, insurance companies request proof of income. • However, there is a lot of misunderstanding in this area. Income verification is required for term insurance? Can you buy a term insurance policy without a proof of income? Why is income documentation crucial?

3. What income documents do you need to submit for a term insurance plan ? You need to submit the correct documents, as getting term insurance without income proof is not possible. The following documents required for term insurance are generally accepted as proof of income: • Salary slips of the last three months • Latest Income tax returns of the previous two years • Income certificate by your employer • Form 16 • Bank statement of the previous six months

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