Is it possible to buy life insurance without furnishing age proof?
Gurdeep Singh, Chandigarh
No – it is not. For insurance companies, the proposer’s age is a crucial input that goes into assessing his risk profile and underwriting his life. As the probability of a person aged 70 dying in the next year is more than that of a person aged 20 years, the age of the proposer has a direct bearing on the premium charged; the premium depends on the age, state of health and habits of the proposer. If your concern is that you don’t have a birth certificate in your possession, you can always furnish alternative proof. Insurance companies accept a certified extract from school or college records, which has the date of birth stated on it.
