Sireesha komati 
Introduction
Term plan is a protection plan. If the bread winner of the family is dimised suddenly , his family will be protected financially.
How many years can we take the term plan?
We can take term plan upto 99 years (lesser age = low premium amount)
Eligibility criteria for term plan ?
The eligibility criteria for term plan is the candidate should be salaried or should be a business man with an annual income above 5 lakhs
How many years do we have to pay the premium in term plan?
Payments are of three types :
- Regular pay : payment throughout the policy term
- That is suppose if a customer takes policy for 70 years then the customer have to pay premium for 70 years
- Limited pay : payment only for 5 years / 8 years / 12 years
- The customer has to pay the total premium within the time period of years he chooses.
- Single pay : payment of total premium amount in one year.
Documents required:
I’d proof : pan card, aadhar card ,voter id , passport etc,.
Address proof : Aadhar card, passport.
Finacial documents :
- Salaried : from 16 , bank statement ( last 6 months ) ,pay slips ( last 3 months )
- Business: ITR returns ,bank statement
What is a free look period ( FLP )
If the client wants to surrender the policy or the policy is not of his/het liking then he can contact the agent and surrender the policy. The time taken to return the money will be 30 days either if it’s online or offline.
