what is minium age for life insurance??

Posted: Tue Apr 21, 2009 06:55 am Post Subject:

even a new born baby of 2 days can be insured but actual benefits of the insurance only start after 7 yrs of age.If there is any sad demise of baby before 7 yrs of age (Qualifying Event) then the beneficiary will only get cash value accumulated but not the actual Death Benefit amount.

for more information just go through this forum in resource desk and thus your preliminary questions about home, life, and all the insurance will be solved... :idea:

Posted: Tue Apr 21, 2009 09:50 am Post Subject:

Amit, you are posting incorrect information.

To insure oneself, one must be old enough to enter into a legally binding contract. They must be an adult.

It is also true that a baby can be insured. It is not true that a death claim can't be made until the kid is 7. If a $50,000 death benefit is purchased on a 2 month old and the child dies at 6 months, $50,000 will be paid.

Posted: Tue Apr 21, 2009 10:18 am Post Subject:

Amit, you are posting incorrect information.

To insure oneself, one must be old enough to enter into a legally binding contract. They must be an adult.

It is also true that a baby can be insured. It is not true that a death claim can't be made until the kid is 7. If a $50,000 death benefit is purchased on a 2 month old and the child dies at 6 months, $50,000 will be paid.

Posted: Tue Apr 21, 2009 11:05 am Post Subject:

Insurance Expert,

here are some more evidence for the information i have provided.

Death Payout:
In the event of unfortunate death of the child during the policy term, the payouts shall
be as under:
Age Payout
Below 7 years Premiums paid will be refunded without interest and
the policy will terminate.
Above 7 and Sum assured with accrued bonuses will be paid and
below 18 years the policy will terminate.
Above 18 and Outstanding payouts will be paid as one lumpsum
below 24 years and the policy will terminate.

Posted: Tue Apr 21, 2009 11:21 am Post Subject:

Amit, what Expert has tried to point out that a child can't purchase a policy in his/her name, rather its the parent who purchases the coverage on the child's name and would be responsible for paying the premiums. You must reread what the OP has asked.

what must be minimum age to insure myself.if i want life insurance for myself then what must be minimum age of mine for this.??
what is minimum age limit

Posted: Tue Apr 21, 2009 11:29 am Post Subject:

if a child can get an insurance policy then surely an adult will also get an insurance policy.He has asked for the minimum age, So i have just explained that.

Minimum age to get an insurance policy is a new born baby of 1 day (provided birth certificate is issued) and maximum age can go up to 80 (there is another discussion going on the same forum about this )

So anyone who fits in between can get life insurance.

Thanks :wink:

Posted: Tue Apr 21, 2009 11:39 am Post Subject:

You are missing out the point here or may be are not being able to understand the language of the posts.

A child CANNOT get himself/herself insured, It’s the parent who would purchase the policy. You were not capable of buying insurance plan on yourself when you were a ‘tod’. It was your father who had brought the plan on you, right?

Posted: Tue Apr 21, 2009 12:48 pm Post Subject:

OK George!! I accept my fault publicly!!

Posted: Tue Apr 21, 2009 03:17 pm Post Subject:

Insurance Expert ,
I haven't put any wrong information on the board.I just stated to the asiankings enquiry.
Asianking is surely not a resident of the US.So i have told him the laws prevailing here in India, that's it.You can't say its a wrong information.

Posted: Tue Apr 21, 2009 05:10 pm Post Subject:

Insurance Expert, if it helps, I'm feeling your pain...i'm off to the pub to vent!