• 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
    • LIC Life Insurance
      "Good service"
      0.5 3.5/5 "Pretty good"
      I have got the Life insurance policy from the LIC around 8 years ago. This policy has the tenure of 20years, I pay the premium amount of Rs,15,000 every year. The plan benefits and the policy coverage is good with this policy. I am getting the money back in every 5 years once from this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 24, 2018
    • LIC Life Insurance
      "Good Service"
      0.5 4.5/5 "Excellent!"
      I've a Money Back Policy from LIC, it has crossed almost 17 years. The tenure is 20 Years, i pay a quarterly premium of 800 rupees. The money back policy is good and in ever five years they gave money back of 10000 which was quite good. Their support was also pretty good.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Apr 24, 2018
    • Future Generali Life Life Insurance
      "Average Policy"
      0.5 3.0/5 "Satisfactory"
      I have a life insurance with Future Generali from last 1 year and it is a long term policy. I am happy with the coverage and returns of this insurance policy. I pay my premium once in a year through net banking. The tenure of this insurance policy is 12 years.
      Was this review helpful? 0
      , ghaziabad
      Reviewed on Apr 24, 2018
    • LIC Life Insurance
      "Excellent"
      0.5 5.0/5 "Blown Away!"
      It was an good experience with Lic. The policy value is good with Lic. Tenure period is for 25 years. I pay my premium through online. The documents process was been simple,they also use to update me regularly regarding new schemes and offers.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • LIC Life Insurance
      "Good service"
      0.5 4.0/5 "Great!"
      The money back policy is good to use from the Lic and I have g got this policy around 4 years ago. The customer support service and the response is good with he LIC . This policy has the tenure of 20years. I pay the premium amount of Rs,8000 yearly once. I go visit the LIC office to do the premium amount.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 24, 2018
    • LIC Life Insurance
      "Good Money Back Policy to have"
      0.5 4.5/5 "Excellent!"
      I've been using the LIC money Back policy for the past 8 Years. I pay a premium of 6000 Per year, They offer cash back of 10000/20000 Every five year. I"ve already recommended this policy to many of my friends and their customer support is also good. I make payments at the office.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 24, 2018
    • LIC Life Insurance
      "Good Policy"
      0.5 4.0/5 "Great!"
      I have a life insurance policy with LIC from last 7-8 years and it is a long term policy. The tenure of this life insurance policy is 20 years. I pay my premium once in 3 months by cheque and i am convenient with the payment options. I am happy with the coverage and returns of this policy.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 24, 2018
    • HDFC Life Life Insurance
      "Very good policy to use"
      0.5 5.0/5 "Blown Away!"
      I have got the Life insurance policy from the HDFC life and the policy has good plan benefits and better policy coverage. The customer support service is good with the HDFC bank. This policy has the tenure of 8years. I need to pay the premium amount of Rs,5150 to this policy .
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Good policy to use"
      0.5 5.0/5 "Blown Away!"
      Holding the money back life insurance policy around 19 years ago. The customer support service and the response is good with the LIC and I pay the premium through ECS mode .The premium amount of Rs.150 per month I pay the premium. I get the money back in every 6years once.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Good policy to use'"
      0.5 5.0/5 "Blown Away!"
      Got the Jeevan anand Life insurance policy around 18yearsa ago. The customer support service and the response is good with the LIC and they give good support to the customers. The tenure of this policy is for 13 years and this policy is yet mature.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      Life Insurance Corporation Of India service is good. The new schemes and offers are good with Lic. They use to intimate regularly regarding my payments. I have taken five policy's with Lic. Tenure period is for ten years. It was an excellent service with Life Insurance Corporation Of India.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 4.0/5 "Great!"
      The Jeevan saraal life insurance policy has been using by me for more than 6 years. The customer support service is good with the LIC and they give better response to the customers. This policy has the tenure of 20years. I would say it is a good policy to use.
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Good policy"
      0.5 3.0/5 "Satisfactory"
      I hold the JEEVAN anand policy from the LIC around 5 years ago. The customer service is good with the LIC and they give good response to the customers. This policy has the tenure of 20years. I pay the premium every month and I would say I am satisfied having the LIC jeevan anand policy .
      Was this review helpful? 0
      , new delhi
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      The service of Lic is good. The new schemes and offers are good with Lic. Payments options are through online. Lic online portal is easy for navigation. I have three policy's with Lic for the tenure period is for 35 years. It was a good experience with Lic.
      Was this review helpful? 0
      , ahmedabad
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The service of Lic is good. The new schemes and offers are good with Lic. Payments options are through online. Lic online portal is easy for navigation. I have three policy's with Lic for the tenure period is for 35 years. It was a good experience with Lic.
      Was this review helpful? 0
      , indore
      Reviewed on Apr 23, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Life Insurance service is good. I have one policy with Kotak Mahindra for the tenure period is for 15 years. The online portal is good with Kotak Mahindra Life Insurance service. The payments will be deducted through Ecs. It was a good experience with Kotak Mahindra Life Insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • Kotak Life Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      Kotak Mahindra Life Insurance service is good. I have one policy with Kotak Mahindra for the tenure period is for 15 years. The online portal is good with Kotak Mahindra Life Insurance service. The payments will be deducted through Ecs. It was a good experience with Kotak Mahindra Life Insurance service.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Good"
      0.5 4.0/5 "Great!"
      The service of Lic is good. The new schemes and offers are good with Lic. Payments options are through online. Lic online portal is easy for navigation. I have one policy with Lic for the tenure period is for 25 years. It was a good experience with Lic.
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 23, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      I have a life insurance policy with LIC from last 20 years and it is a money back policy. The tenure of this life insurance policy is 16 years. I pay my premium once in a year through net banking and the payment options are convenient for me. I am happy with the coverage value of this policy.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 20, 2018
    • LIC Life Insurance
      "Best policy"
      0.5 5.0/5 "Blown Away!"
      LIC is one of the best insurance policy, i have this policy from last 8-9 years and it is a long term policy. I pay my premium once in 6 months through net banking and i am convenient with the payment options. The maturity period of this policy is 20 years and i am happy with the returns of this policy.
      Was this review helpful? 0
      , bangalore
      Reviewed on Apr 20, 2018
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