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Yes, a minor can be the owner of a life insurance policy in India. However, there are certain considerations and limitations involved when a minor is a policyholder. A minor, being under the age of 18 cannot enter into a contract independently, a guardian (usually a parent or legal guardian) needs to be appointed to act on behalf of the minor policyholder. The guardian will have the authority to make decisions regarding the policy until the minor reaches the age of majority.
To check the fund value of your LIC (Life Insurance Corporation of India) life insurance policy online, follow these steps:
To download a life insurance policy statement, you typically need to follow the below steps.
Tata AIA Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
Star Union Dai-Ichi Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
Shriram Life Insurance Company offers a free-look period during which the policyholder can cancel the policy if they are not satisfied with the terms and conditions and receive a refund of premiums paid. The free-look period is usually 15 days to 30 days from the date of receiving the policy document.
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