What is Term Insurance?
Term Insurance is a plan given by a family head or income earner to avoid any financial crisis for his family or his dependents in the event of a mistake. The income will be paid to his family according to the policy taken by the person. But before he takes out a term insurance policy, he will be subjected to some tests by that insurance company. Let’s pop about it.
Eligibility for Term Insurance
When we take Term Insurance, they do not give the amount we ask for as insurance. 50 lakh or more depending on your eligibility.
Before giving you term insurance,
* Income of the person
* The status and risks of your job
Will do many such tests. In most cases, term insurers between the ages of 20 and 25 do not need any medical check-ups. But those who are over it will be subjected to many tests like blood test, cholesterol test, if you have any disease.
Things to look out for
In the case of term insurance, the policyholder will not receive any refund as long as the policy is alive. This means that the policy has no savings other than the amount for your life. So be careful when taking policy.