Documentation is an essential aspect when purchasing a term insurance with return of premium (TROP) plan. In fact, it is not only important for TROP but also a crucial part of any insurance purchasing journey. These documents help the insurance provider assess your financial status before providing coverage. Once you've purchased a term plan, you can review it and submit any relevant paperwork. Let’s understand more about the documents required for term insurance with return of premium (TROP), which include personal and financial information.
Life Cover Starting @ just ₹18/day*
Change Your Policy Term
As per your life stage and commitments
Hassle-Free Claim Settlement
99.38% Claim settlement ratio*
Smart Income Tax Savings
Save up to ₹54,600* on your taxes
Documents Required to Buy TROP Insurance: Checklist & Guide.
Term insurance with return of premium (TROP) is nearly identical to a term insurance plan. It offers life cover to beneficiaries like a conventional term plan, but also provides a payout at maturity. In other words, if the insured individual survives the policy period, they are entitled to receive the premiums paid. However, if the policyholder dies during the term, the beneficiary or nominee receives life insurance coverage. It is an ideal life insurance plan for individuals who want to save money while receiving life insurance coverage.
The usual application requirements for term insurance are income evidence, identity proof, a medical report, and proof of residence.
Applicable documents for official identity proof include:
For verification needs, the applicable documents include:
Some of the key documents for income proof include:
Salary slips showing your salary/income credits
Applicable documents for medical proof include:
Let's understand the significance of the documents required for term insurance:
This verifies the life insurance buyer's age, which is an essential aspect in determining premium rates.
These documents are necessary for term insurance to determine whether the buyer is a citizen of the country
Income proof is another important document to include in the paperwork checklist. It is used by the insurer to determine rates and whether or not the assured coverage can be provided to the buyer.
By providing updated medical records, you give insurers a clear picture of your health, which helps them assess your policy. They consider your health risks and previous medical history to determine your insurability.
You must also provide recent passport-sized photographs before policy issuance.
Having all necessary documents ready helps insurers process your application faster, so you can get covered sooner.
If you’ve lost your original term insurance policy papers, here’s a simple guide to help you get a duplicate:
Inform your insurer right away.
Publish a notice in the newspaper. It can be in a local or regional publication.
Wait for a month, then share a copy of that ad with your insurance provider. It’s part of their standard process.
Sign an indemnity bond saying you’ll return the original if you find it later.
Submit all the required paperwork. Once everything is in order, your insurer will issue a duplicate policy.
These steps are general guidelines. Please check your insurer’s specific process and requirements for obtaining duplicate policy papers.
Providing the correct documentation is critical to purchasing Term Insurance with Return of Premium (TROP) coverage. Proper identification, evidence of address, income proof, and medical proof help the insurer evaluate whether you are eligible for coverage and can speed up the application process.
1.7K Linkedin Followers 
Reviewed by Vaibhav Kumar Kaushik 
Acko Technology & Services Private Limited
#36/5, Hustlehub One East, Somasandrapalya, 27th Main Rd, Sector 2, HSR Layout, Bengaluru, Karnataka 560102
Products 
Company
Legal
Support
Car Insurance 
Bike Insurance
Health Insurance
Group Health Insurance
Travel Insurance
Life Insurance
