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Term Insurance for Diploma Holders

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13 Jul, 2023 by  Udit Jain

Recently, I have come across a scenario where a Diploma Holder (10 + 3) wants to purchase a term insurance of 1.5 Cr, but most of the companies are denying the same despite of having the eligible earning. The companies which are offering are charging heavily for the premium. What can be done in this case?

Term Life Insurance

1 Answer

04 Aug, 2023

Hello Udit,

In order to be eligible for term insurance, many insurers often require a minimum of 12th-grade education or graduation. This means that individuals holding a 10+3 Diploma may find it challenging to obtain a regular term plan. There is an alternative option called Saral Jeevan Bima, which you can explore. Saral Jeevan Bima is specifically designed for those who do not meet the eligibility criteria for a regular term insurance policy due to factors such as education, occupation, or income, etc. For more info about Saral Jeevan Bima, you can visit this link:

Thank you!

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