Took term insurance yesterday, but it is having a big process
By Saurabh
@saurabhrmp (2283)
Hyderabad, India
July 10, 2018 12:18am CST
Yesterday i paid for teem insurance but later on i got to know it is a very big process. You need to fill a very big proposal form with so many details. After that we need to submit a big list of document for verification. Also theree will be some medical tests which i need to went through then accordingly i will be issued with term insurance.
So on thursday i booked the appointment for my medical tests. i am little worried as if something wrong came in my reports then they might reject or increase the premium.
I really didnt know that it is having big process. Did you guys any time took term insurance?????
3 people like this
5 responses
@amitkokiladitya (171988)
• Agra, India
10 Jul 18
Don't worry all shall be well. Yes, they have a lot of formalities that can drive anyone crazy.
1 person likes this
@saurabhrmp (2283)
• Hyderabad, India
10 Jul 18
Yes, hopefully everything should be ok. Yes there are so formalities. Today i submitted all my documents. On thursday my medical tests are planned.
1 person likes this
@saurabhrmp (2283)
• Hyderabad, India
11 Jul 18
@amitkokiladitya, i already have life insurance but for that premium is too high for high insured amount. But in term insurance the premium is very less for high insured amount. Now i dont need to take any life insurance where ROI is very less.
1 person likes this
@amitkokiladitya (171988)
• Agra, India
11 Jul 18
@saurabhrmp good luck. But why didn't you opt for life insurance instead of term insurance?
1 person likes this
@Jessabuma (31696)
• Baguio, Philippines
10 Jul 18
Yes that's true.. it's really a long process
1 person likes this
@saurabhrmp (2283)
• Hyderabad, India
10 Jul 18
Actually i didnt thought of the same. And actually i was not ready with documents also. So, i am busy in collecting those documents.
1 person likes this
@saurabhrmp (2283)
• Hyderabad, India
11 Jul 18
@Jessabuma, finally i submitted my documents and now only medical is left which is planned on thursday
1 person likes this
@Jessabuma (31696)
• Baguio, Philippines
11 Jul 18
@saurabhrmp ohh I see.. good luck to you dear
1 person likes this
@saurabhrmp (2283)
• Hyderabad, India
10 Jul 18
I usually take Life Insurance And it was not that much big process. As there was no medical tests in those policies
@boiboing (13147)
• Northampton, England
10 Jul 18
@saurabhrmp By term insurance I am assuming you mean you insure for the term of a mortgage or a fixed period such as 20 or 30 years. That's the type I've taken without medicals. I don't have any whole life insurance but I do have a scheme through work that will pay 6 times my salary if I die whilst workign there.
1 person likes this
@saurabhrmp (2283)
• Hyderabad, India
10 Jul 18
Dor life insurance you didnt need to go for medical test. But for term insurance in india almost all companies are going for medical test and insured is big amount and premium is not that much big
@saurabhrmp (2283)
• Hyderabad, India
10 Jul 18
@boiboing yes even my company is giving similar type of term insurance if aomething happen during office hours. But here i took term insurance outside of my organization
@saurabhrmp (2283)
• Hyderabad, India
10 Jul 18
Have you also took term insurance. If yes, how many days it will take to get term insurance policy confirmation
