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Upgrading Term Insurance without Income Proof

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19 Oct, 2020 by anand kakrania

i have bought a term plan of 1 crore through icici pru and now i want to get additional coverage of may be 50 lakhs to 1 crore for myself but i am unable to get additional coverage as most insurers dont give term coverage beyond 1 crore through surrogate income. i do not file IT RETURN. HOW CAN I GET ADDITIONAL COVER??

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Term Life Insurance

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21 Oct, 2020
Team Beshak

Hello Anand,


Can you please explain why you do not file a return - maybe that could help us provide you solutions.


It will definitely be very difficult getting a cover without income proof. Honestly you are fortunate that insurers are offering a 1 crore cover over surrogate income documents since a few years.


You will have to try and approach an alternate lot of insurance companies apart from Bank brands like ICICI, HDFC. Have you tried Tata, Max Life, Canara HSBC.


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21 Oct, 2020
anand kakrania
my income is below taxable limit so i don't need to file it return. I have tried tata aia and max life but it did not work out.
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