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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
      "Worst Policy Provider. Dont Trust them"
      0.5 0.5/5 "Unacceptable"
      one of the unethical and non trusted brand. don't go with icici policy there are lots of hidden clause which these guys hide from you. please avoid going for icici pru policy. I have avail policy in month of January they have hide lots of bad things about policy.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 17, 2018
    • Future Generali Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Future Genrali. I am paying a premium of 12000 per year. Their hasn't been any issues with the policy. The policy is a normal life insurance with out any commendable benefits. They need to improve their customer support services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 15, 2018
    • Kotak Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Kotak, I am paying a premium of 11000 , they need to work on their promises while purchasing the policy. I am just paying the premium with out any benefits or a proper support. When it comes to serving customers they're all hesitant.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 15, 2018
    • Max Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the Max Life. I am paying a premium of 35K per year, they all provide massive offerings in order to convince the customers but once the customer has taken the policy; the service part becomes pathetic. They need to be more helpful and beneficial form the customer point of view.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 15, 2018
    • Birla Sun Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with Birla Sun Life from last 10-12 years and it is a long term policy. I pay a premium of Rs 6000 once in 6 months and i am convenient with the payment options. The tenure period for this insurance policy is 20 years.
      Was this review helpful? 1
      , mumbai
      Reviewed on Sep 14, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      My life is insured with LIC from last 12 years and it is s long term policy. The name of the policy is Jeevan anand and the tenure period for this policy. I pay my premium once in 3 months through net banking and the maturity period for this policy is 16 years.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 12, 2018
    • Aviva Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with AVIVA life from last 6 years, i am happy with the coverage value of this policy. It covers critical illness as well as it has a cashless treatment. A premium of Rs 4500 has to be paid for this policy and i pay it through net banking.
      Was this review helpful? 1
      , pune
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I hold a Money back policy with LIC from last 6-8 years, i get a money back after every 4 years. 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 tenure period for this loan is 25 years.
      Was this review helpful? 1
      , chennai
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      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 once in 3 months through net banking and i am convenient with the payment options. The maturity period for this policy is 15 years
      Was this review helpful? 0
      , chennai
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 3.5/5 "Pretty good"
      I have a life insurance policy with LIC from last 4 years and it is a long term policy. I am satisfied with the coverage and returns of this insurance policy. I pay my premium on yearly basis and the payment mode is Auto debit. The tenure period for this policy is 15 years.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 12, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've two life insurance policies with the LIC, I'm paying a premium of 40000 for the two policies. I am making the premium payments online. So far there hasn't been any issues with their services.
      Was this review helpful? 1
      , lucknow
      Reviewed on Sep 11, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've two life insurance policies with the LIC, I'm paying a premium of 40000 for the two policies. I am making the premium payments online. So far there hasn't been any issues with their services.
      Was this review helpful? 0
      , lucknow
      Reviewed on Sep 11, 2018
    • SBI Life Life Insurance
      "Average Service"
      0.5 3.0/5 "Satisfactory"
      I've a life insurance policy with the SBI Life. I am applying a low premium, So far it has been a hassle free experience with the policy. I am just paying the premium. The premium is comparatively low.
      Was this review helpful? 1
      , udaipur
      Reviewed on Sep 11, 2018
    • ICICI Prudential Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the ICICI Prudential Insurance for a while. Their services are good. I am paying the premium regularly. So far there hasn't been any issues with their services so far.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 11, 2018
    • Max Life Insurance
      "Good services overall"
      0.5 4.5/5 "Excellent!"
      Max Life Insurance was pretty quick in the response for the term plan. The plan riders come up with good set of critical illness. The insurance procedure was quiet well described and executed. Just wish to add one point for the medical test center guys, please try to maintain cleanliness of the instruments because it will help in creating a hygienic impression of the process.
      Was this review helpful? 2
      , ahmedabad
      Reviewed on Sep 10, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.0/5 "Great!"
      I've a life insurance policy with the LIC. I am paying a premium of 3100 quarterly, I am making payments online. The offers flexibility of loans and their services are friendly.
      Was this review helpful? 1
      , bangalore
      Reviewed on Sep 07, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policies, I am paying a premium 50000 per year, I have 2 policies. I am paying the premium via the LIC portal. So far it has been a good experience with the policies and their services.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 07, 2018
    • SBI Life Life Insurance
      "Good Service"
      0.5 5.0/5 "Blown Away!"
      I've a life insurance policy with the SBI life. I am paying a premium of 40000 per year, sum assured is good and the policy features were good. So far it has been a very good experience with the policy and their services.
      Was this review helpful? 2
      , hyderabad
      Reviewed on Sep 07, 2018
    • LIC Life Insurance
      "Very Good Service"
      0.5 4.0/5 "Great!"
      I had taken this insurance policy almost three years back and i had taken this insurance policy with the help of an agent. The process of payments has been nice and i had been making the payments directly with cash, it has been easy. Their customer support and their staff responses also had been good as well.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Sep 07, 2018
    • LIC Life Insurance
      "Very Good Service"
      0.5 3.0/5 "Satisfactory"
      I had taken this Life Insurance policy almost 20 years back and it had been a good experience i had with them. I had been making the payments every month and th payments had been easy since it will be directly deducted from my salary. Their customer support and their staff responses had not been bad and they could improve in their responses.
      Was this review helpful? 1
      , hyderabad
      Reviewed on Sep 07, 2018
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