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Term insurance for Non-Graduates

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21 Jan, 2021 by  Phani

My Brother is only 12th pass (not a graduate), but he's a successful businessman.

The agent is saying that none (Aegon, Max Life etc.,) of the insurance companies (except TATA and LIC) are offering him a Term plan. Is it true that they don't offer to Non-Graduates? What is the reason for this?

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Term Life Insurance
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21 Jan, 2021
Associate Professor, BIMTECH

Yes , it is possible .These companies must be having a re-insurance arrangement where such condition is in place.

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22 Jan, 2021
Phani
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27 Jan, 2021
We breathe insurance :)

Hello Phani,


This is true for regular term plans available online today. However, the good news is that now with the introduction of standardized term life plans, people like your brother would be able to access term life insurance without any hurdles. These plans are called Saral Jeevan Bima - You can read about them here: Comparison of Saral Jeevan Bima with regular term plans | Who should buy? (beshak.org)


Most of the insurance companies are in the process of launching this plan soon. You should wait and check by around the 15th of February.


Regards,

Team Beshak

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