zTermLifeInsurance Blog
Sunday, March 14, 2010
- 09
Feb
2010 -
Underwriting and Understanding IC+ Term Life Insurance
Filed Under: Blogging
Term life insurance is a great option for expats who are looking to provide a stable financial future for their family in case of their demise when living and working abroad. One such plan, the IC+ Term Life Insurance plan, is a good option to cover those who live and work outside the U.S.
To apply, the plan requires three main forms: the application, the financial questionnaire, and the medical questionnaire. The application for insurance is available online, and must first be filled by the plan applicant.
The financial questionnaire is required only if the total sum assured is $350,000 or higher. The financial questionnaire to be filled will depend on the purpose of insurance, which will be determined by the company only after the receipt of the application form. Alternatively, a financial questionnaire can be requested in advance.
The medical questionnaire, completed by a doctor within 30 days of the application date, is required only if the sum assured is above a certain amount. If the plan holder is aged 35 or under, the limit is $225,000. The amount decreases with increase in age, and a medical questionnaire is required for all applicants above the age of 65.
