Documents Required to Buy a Term Insurance

Complete checklist of documents needed to purchase term insurance in India. Compare on Insuremile.

Underwriting a term insurance policy requires formal documentation to verify identity, insurable interest, financial eligibility, and health condition. Having these documents ready speeds up policy issuance.

1. Proof of Identity and Address (KYC)

Aadhaar Card (via e-KYC or masked photocopy)
PAN Card (mandatory for life insurance purchases in India)
Passport, Voter ID, or Driving License

2. Proof of Age

Insurers strictly verify birth dates to calculate mortality charges. Valid proofs include:

Birth Certificate
10th Class School Leaving Certificate or CBSE/ICSE Marksheet
Passport or PAN Card

3. Proof of Income

Income proof determines the maximum sum assured an insurer will grant (usually up to 20x to 25x annual income for individuals under 35):

Salaried Individuals: Latest 3 months' salary slips, 6 months' bank statements showing salary credits, and latest Form 16.
Self-Employed: Income Tax Returns (ITR) for the last 2 to 3 financial years along with Computation of Income and audited balance sheets.

4. Medical Records (When Applicable)

If requested by underwriting or required by age/coverage thresholds:

Reports of past surgeries, hospital discharge summaries, or current prescription records.
Diagnostic tests arranged by the insurer (blood profile, ECG, urine analysis, lipid profile).

Reviewed by Insuremile's licensed advisory specialists per IRDAI editorial standards. Always check the official policy wording for specific inclusions, exclusions, and sub-limits.