Buy term. You must have read this a million times in these pages. If you are looking for a life insurance policy to protect your family against your untimely death, then the only product type to buy is a term insurance plan. But it may not be that easy to buy it. There are three possibilities that may play out when you try to: you may have to undergo additional medical tests or submit more documents, you may have to pay a higher premium, or in the worst case be denied insurance altogether.
Several things determine your experience of buying a term policy. The important ones can be broadly categorised under health, income, educational qualifications and occupation. We tell you how you are assessed on these parameters.
