When purchasing a life insurance policy, certain documents are essential for the insurance company to underwrite the policy. Here are the key documents required[11]:
1. Proposal Form:
This form serves as the foundation of the insurance contract. It collects vital information about you, including personal, financial, and medical details. You must fill it out, sign it, and submit it to the insurance company.
2. Identity Verification:
Valid identity proof is necessary, and acceptable documents include:
- Aadhaar Card
- Passport
- Voter ID Card
- PAN Card
- Driving License
3. Proof of Age:
You can submit various documents to verify your age, such as:
- Birth Certificate
- Baptism Certificate
- School or College Records
- Employer’s Records
- Government-Issued Defence ID
- Marriage Certificate
- Passport
- Domicile Certificate
These are standard age-proof documents[12]. Alternative proofs i.e. non-standard age proof, may include:
- Employer’s Service Records
- Driving License
- Self-Declaration
- Electoral Roll
- Declaration by Elders
- Ration Card
- Certificates from Village Panchayats
4. Address Verification:
Commonly accepted address proofs include:
- Utility bills
- Rent agreements
- Property deeds
- Aadhaar Card
5. Income Verification:
For high-value life insurance plans, proof of income may be needed, including:
- Salary slips
- Income tax returns
- Bank statements
6. Medical Information: Medical reports may be required for those above a certain age, seeking high coverage, or with existing health issues. You might need to undergo medical tests or complete health questionnaires detailing your conditions and treatments.
7. Include all existing insurance policy details by ensuring every relevant details are sharerd.
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