Article · 16 min read

Best Term Insurance for Self Employed and Non-Salaried Individuals

Ditto Insurance · Ditto Insurance (joinditto.in) Free Intermediate India

This explains exactly how an underwriter reads a founder: they want 2 to 3 years of ITRs, P&L, Form 26AS, and GST returns, cap your cover at roughly 20 to 30x documented income, and discount commission or trading income as unreliable. It also names the practical fix for lumpy earnings: a limited-pay plan you finish in your strong years so the policy never lapses when income dips.

  • Term cover is capped near 20 to 30x your documented annual income, so a year of thin ITRs shrinks the cover you can lock in, another reason to buy before you quit
  • Insurers want 2 to 3 years of ITRs, P&L, Form 26AS, bank statements, and GST returns, not just a salary slip, so get your filings clean first
  • Choose a limited-pay term plan you can finish during strong earning years, so a lean founder year never triggers a lapse
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The question it answers

  1. How do I keep my health insurance and financial safety net after I quit my corporate job in India?

Read with it

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