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  • What Causes Of Death Are Not Covered Under a Term Plan

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    One of the purest forms of life insurance is a term insurance plan. These plans have been around for a long time, and are among one of the most popular choice for millions of individuals looking to get life insurance to protect their loved ones.Term insurance plan are characterized by certain features which are almost uniformly seen in most term plans. These include offering a high amount of sum assured cover, affordable premiums, fixed policy period ranging from 5 to 30 years, and provision of a death benefit which is provided when the policyholder passes away before the end of the policy term.

    When it comes to insurance, many people still view it as an investment, which may not be the correct way of approaching the product. A term insurance plan is not an investment, but a tool to ensure your family’s financial stability, if you happen to pass away suddenly. It is only an investment towards your own peace of mind that you get knowing that your loved ones will be provided for if something were to happen to you.

    Speaking on the topic of coverage that is provided by a term insurance plan, there are certain causes of demise which are covered, and some which aren’t covered. Listed below are some of the causes of death which may not be covered under a term insurance policy, and for which, a claim may not be approved by the insurer. This is not an exhaustive list, and may differ from insurer to insurer, as well as the terms and conditions of your policy.

    • If you have not fully disclosed all facts pertaining to what has been asked on your insurance proposal.
    • If death has been caused due to a disability or a critical illness that is not covered under the policy.
    • If the beneficiary is under 18 years of age or a minor. In this case, the sum insured benefit is usually paid out to the minor’s guardian or a trustee appointed by the insured.
    • In case there is a difference in nominee details in your insurance policy, and your will. The sum insured will be paid out to the beneficiary named in the policy.
    • If you survive your policy term, no payout will be made.
    • If the insured policyholder commits suicide. Usually, in case of death due to suicide, there is a contestability period that is applicable. If the suicide has taken place after this period, the policy may honour the claim. However, this is subject to the terms and conditions of the policy.
    • If the policyholder has been killed while they were in a country that is out of the scope of the policy’s coverage.
    • If the policyholder is killed during any war or war-like activity.
    • Most policies will not provide cover for high-risk or extreme sports activities like sky-diving, bungee jumping, etc. Death due to participation in a restricted activity will result in a loss of claim.
    • The policy will definitely not provide cover if it has lapsed due to non-payment of premiums, even beyond the revival period.

    Life insurance is an agreement between the insurer and the insured, on the principle of utmost good faith. When taking a life insurance policy, it is important for the insured to find out every last detail pertaining to the exclusions under the policy they are looking to purchase, so as to avoid having a claim rejected. It is also the duty of the insurer to inform the buyer about the same, so as to help them understand the exact coverage they will be getting under the plan they are looking to purchase.

    Causes Of Death That Are Not Covered Under a Term Plan Reviews

  • Page 1 of 50 1 2 3 4 5
    • ICICI Prudential Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I had taken this insurance policy very long time back. The sum assured with them had been good and the premium i pay every month is around 3000 and i had been making the payments online. It has been a hassle free experience with them. Their customer support and the staff responses had been good so far.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 20, 2018
    • LIC Life Insurance
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken this insurance almost one and a half years back. The services which they had provided so far had been good. One of the known person of mine has came directly and i had taken this insurance, even they used to collect the premium every directly at the doorsteps. There has not been any issues faced so far.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 20, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the LIC. I am paying premium 30000 per year, the tenure of the policy is 30 years. I am paying the premium online. So far there hasn't been any issues with the services of LIC and being a Govt company the security for your investment is guaranteed.
      Was this review helpful? 0
      , navi mumbai
      Reviewed on Jul 20, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My life insurance policy is with LIC from last 14 years and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , mumbai
      Reviewed on Jul 20, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 1 year and it is a long term policy. The maturity period for this insurance policy is 10 years. I pay a premium of Rs 2000 on monthly basis through ECS and i am convenient with the payment options. I am happy with the returns and benefits of this policy.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 20, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 6 months and it is a long term policy. I am happy with the coverage and returns of this policy. I pay a premium of Rs 8000 once in 3 months by cash and i am convenient with the payment options. The maturity period for this policy is 20 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 20, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 5.0/5 "Blown Away!"
      I have visited the branch directly to get the insurance policy. I have to pay the the premium for 25 years. Basically its a moneyback policy. I have got a very good response in the branch. I'm very much satisfied with the sum assured amount what they have provided for my policy. I'm not much interested to know about the policy details.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 19, 2018
    • Tata AIA Life Insurance
      "Clain Ratio is good. "
      0.5 5.0/5 "Blown Away!"
      I took this term insurance in the year of December 2016. I used the premium amount of Rs. 35000 i used to pay the premium yearly by using the credit card through online banking. They are offering a sum assured amount of 1.1 crore. I have to pay this term insurance for 10 years. I have spoke their customer care service and they were helpful to me.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 19, 2018
    • LIC Life Insurance
      "Excellent policy"
      0.5 5.0/5 "Blown Away!"
      I never called the customer care service of LIC. I used to pay the premium amount of Rs. 4200 for every month. I'm not aware of the sum assured amount . I have to pay this premium for 15 years. I used to make the payment through online banking. I have purchased this LIC policy for 5 years before.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 19, 2018
    • Bajaj Allianz Life Life Insurance
      "High Returns"
      0.5 5.0/5 "Blown Away!"
      I have a very less idea of Insurance sector, on my friends recommendation I ended up buying the ULIP Plan from Bajaj Allianz (https://www.bajajallianzlife.com/ulip/ulip.jsp.) The policy is great and personally I think it is one of the best investment plan with high returns. Service is fast and on time which is well facilitated from the customer services team.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 18, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 4.5/5 "Excellent!"
      I have a life insurance policy with LIC from last 1 year and it is a long term policy. I am happy with the returns and benefits of this policy. I pay my premium of Rs 7000 once in a year by cash and i am convenient with the payment options. The maturity period for this policy is 16 years.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 18, 2018
    • SBI Life Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I took life insurance jeevan policy from Lic insurance company mainly because of the good returns, its 12 years of tenure period , the payment am doing through Ecs half yearly . There customer service and customer response is good .This policy covers accidental and critical illness coverage .
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 18, 2018
    • LIC Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have my life insured with LIC from last 6 months and it is a long term policy. The tenure for this life insurance policy is 16 years. I pay my premium once in 3 months and for every premium thy charge GST with which i am not happy with. The coverage and returns are not up to the mark.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jul 17, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 10 years and it is a long term policy. I am happy with the coverage and returns of this policy. I pay my premium once in a year by cash and the payment is collected by the agent. The maturity period for this policy is 25 years.
      Was this review helpful? 0
      , chennai
      Reviewed on Jul 17, 2018
    • SBI Life Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have my life insured with SBI LIFE from last 10 years and it is a long term policy. I pay my premium once in a year by cheque and i am convenient with the payment options. I am happy with the returns and benefits of this policy. The maturity period for this policy is after 25 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Jul 17, 2018
    • LIC Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I took life insurance jeevan policy from Lic insurance company mainly because of the good returns, its 20 years of tenure period , the payment am doing through Ecs monthly . There customer service and customer response is good .This policy covers accidental and critical illness coverage for 50 years .
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Jul 17, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 5.0/5 "Blown Away!"
      l I have taken life insurance jeevan policy from the life insurance corporation of India . I pay the premium amount monthly which gets auto debited from my account . The policy coverage till 6o years with accidental benefits and critical illness . They gave the tenure period of 20 years and am satisfied with the premium amount.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 17, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have taken life insurance jeevan policy from Life insurance corporation of India . This policy covered with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response . I have choose tenure period of 20 years with policy coverage of 55 years and make the payment yearly through their agent
      Was this review helpful? 0
      , new delhi
      Reviewed on Jul 17, 2018
    • SBI Life Life Insurance
      "Poor policy"
      0.5 1.0/5 "Really Bad"
      I have taken sbi life insurance now i have closed it as they have false promise as i have taken this policy based on good returns after 5 years but at the time of closing they have make payment which they have deducted some amount of rs 80k above . I have contacted their customer service as there is no proper response from them. And i wont recommend any one for this bank.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 17, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have taken life insurance jeevan policy from Life insurance corporation of India . This policy covers with accidental coverage and critical illness coverage . This is good policy with good benefits . Overall am satisfied with customer service and response .And making the payment yearly through on-line net banking.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Jul 17, 2018
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