Prices Increasing Soon
Many insurers now offer self-employed and business owners the chance to buy a 1 crore life cover without providing their income proof. This applies to term insurance plans, where the premiums are much lower for a large life cover. You can choose the type of term insurance plan you want to buy, like regular term plans, term return of premium, or no-cost term plans. With these plans, you can also get upto a 10% online discount on the premiums.
#All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply
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++Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
Note: Know more about what is term insurance first before reading this article.
“Yes”. The insurers currently offering 1 crore cover without ITR of the last 3 years are HDFC life insurance and Aegon life insurance. Instead of presenting the ITR of the last 3 years, the business owners need to present their financial surrogates like Car RC, Bike RC, or credit card statements.
Some other documents required to buy term insurance without income proof are valid government ID and address proofs. This allows customers of all backgrounds to buy term insurance for self-employed and financially secure their loved ones against any eventualities.
Term Plans
A term insurance for self employed or business owners is essential as it provides their family with the needed help in the event of their untimely demise. A large life cover of 1 crore can help the policyholder provide financial stability to their family against any potential loans or debts like business loans or credit card debts. You can easily buy these plans from Policybazaar by comparing the available plans online from the comfort of your home.
Term insurance for business owners and self-employed is important as it provides individuals with unstable income the financial stability for their family. The no income proof feature allows people who don’t have income proof to buy term plans and secure their loved ones.
Note: You should also check the term insurance benefits if you are planning to purchase the term insurance plan.
˜Top 5 plans based on annualized premium for bookings made on https://www.policybazaar.com in the first 6 months of FY 24-25.
Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
+Rs. 487/month (Rs.16/day) is starting price for a 1 crore term life insurance for an 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
Prices offered by the insurer are as per the approved insurance plans | #All savings and online discounts are provided by insurers as per IRDAI approved insurance plans | Standard Terms and Conditions Apply | **Tax Benefits are subject to changes in tax laws.| Policybazaar Insurance Brokers Private Limited
We will respond in the first instance within 30 minutes of the customers contacting us. 30-minute claim support service is for the purpose of giving reasonable assistance to the policyholder in pursuance of the claim. Settlement of claim (including cashless claim) is the responsibility of the insurer as per policy terms and conditions. The 30-minute claim support is subject to our operations not being impacted by a system failure or force majeure event or for reasons beyond our control. For further details, 24x7 Claims Support Helpline can be reached out at 1800-258-5881
For more details on risk factors, terms and conditions, please read the sales brochure carefully before concluding a sale
Policybazaar Insurance Brokers Private Limited | CIN: U74999HR2014PTC053454 | Registered Office - Plot No.119, Sector - 44, Gurgaon, Haryana – 122001 | Registration No. 742, Valid till 09/06/2027, License category- Composite Broker Visitors are hereby informed that their information submitted on the website may be shared with insurers. Product information is authentic and solely based on the information received from the insurers.
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+Rs. 820/month is starting price for a 2 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
+Rs. 1,443/month is starting price for a 5 crore term life insurance for an (NRI) 18 year-old male, non-smoker, with no pre-existing diseases, cover upto 38 years of age.
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