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What Causes Of Death Are Not Covered Under a Term Plan

A term life insurance policy covers only certain types of death. Know the types of deaths that are on the exclusion list when it comes to the death benefit payout of a term life insurance policy.
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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

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  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India, there service is good, the agent had explain me about the policy coverage,and about plan benefits clearly, and the premium amount they have charged me on yearly basis, and they have charged me up to 3000 it is nominal , and premium amount i use to pay through on line.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 22, 2019
  • Birla Sun Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Aditya birla , there service is they provide me was excellent, till now i have not face any issue in that, there premium amount they have charged me in monthly basis,they have charged me up to 6200, and it is nominal to me , the agent had explain me about the policy coverage and plan benefit properly,i use to pay on on line mode. overall service is good.
    Was this review helpful? 0
    , new delhi
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have purchased my money back policy long bank and twice i have received the cash in my account without giving any request and I'm quite happy about the received sum assured amount. I pay the premium amount of Rs. 600 every month. I make the premium through online.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    Bought my life insurance policy from LIC. I have chosen the plan called Jeevan Anand. This is the tax benefits policy. I pay the premium amount of Rs. 1000 every month with the tenure period of 2.5 lakhs. This is a 15 years tenure period policy.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good policy"
    0.5 5.0/5 "Blown Away!"
    I have bought the life insurance policy in the year of 2011. My agent has suggested me about this policy. I have been paying the premium amount of Rs.10300 through ECS. I have chosen the mode of annually. Overall, I'm satisfied with the LIC policy.
    Was this review helpful? 0
    , ahmedabad
    Reviewed on Jan 22, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    Purchased my money back from LIC. I have selected the LIC company for my policy its because of the better option. They are providing various payment mode facilities. I'm satisfied with the sum assured amount and LIC customer care service is really fine.
    Was this review helpful? 0
    , indore
    Reviewed on Jan 22, 2019
  • Kotak Life Life Insurance
    "Good Insurance Policy"
    0.5 4.0/5 "Great!"
    I have purchased a accidental covered policy from Kotak Mahindra bank. Kotak gives more online services and the app is really good. I have got this policy 5 months back. I made a premium amount of Rs. 1200 and this policy covers only for me. I have not claimed anything in this policy so far.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 22, 2019
  • SBI Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with State bank, and the agent had clearly explained me about the policy coverage and benefits,there have given me hard copy ,and the premium amount they have charged me on yearly basis, and i pay my premium through on line.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I have been using my life insurance with Life insurance corporation of India, i have taken Jeevan anand policy ,i have paying premium on yearly basis up to 9,000 they have charged me , it is nominal for me , i use to pay through on line, the agent had clearly explain me about the policy and benefit coverage.
    Was this review helpful? 0
    , chennai
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Excellent Policy"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy almost four years back and i had been paying the premium amount quarterly. The premium amount has not been high and the payment method has also been convenient. It is a very good policy and is suggestible to all others.
    Was this review helpful? 0
    , bilaspur
    Reviewed on Jan 21, 2019
  • HDFC Life Life Insurance
    "Good service"
    0.5 4.0/5 "Great!"
    I had taken this insurance policy a long time back and i had been paying the premium on an annual basis. The premium amount has not been high and the payment method has also been convenient as well. There has not been any hassle faced with the services which they had provided so far.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Very Good Service"
    0.5 5.0/5 "Blown Away!"
    I had taken this insurance policy a very long time back and i had been paying the premium half yearly. The premium amount has not been high and the payment method has also been simple. There was no difficulty faced in the payment methods and their staffs had also been helpful at times.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Good insurance company"
    0.5 5.0/5 "Blown Away!"
    I have Bharthi jeeven bhema policy it has the tenure of 20 years, I make the premium around Rs. 14,000 on half yearly. LIC agentS are very professional, my policy coverage is around Rs. 11,000,00. It has tax benefits , life cover for natural and accidental cover.
    Was this review helpful? 0
    , udgir
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Good Policy"
    0.5 5.0/5 "Blown Away!"
    I had money back policy, it was for Rs. 5 lakhs its has term of 20 years. I paid it around six years, then I didn't continue , I changed the mobile number and I shifted to some other location. Hence it got discontinued, I had paid half yearly payment hence once I got the bonus amount of Rs. 50,000.
    Was this review helpful? 0
    , hyderabad
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Reliablity with some element assured returns"
    0.5 4.0/5 "Great!"
    My ULIP policy with the Life Insurance Corporation of India. I have taken this policy through Agent. The LIC agent follow up is very eager on the payment. They used to give a reminder 1 month before. Because of the reliability and many decade of the trust, i have selected the LIC.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • SBI Life Life Insurance
    "Competitive offering"
    0.5 5.0/5 "Blown Away!"
    I have purchased the term insurance policy from SBI LIFE. Very competitive premium they are offering and they have good webpage and mobile app is not good. I'm happy about the sum assured amount. Tenure period is comforable. They have a very good claim settlement and hassle free services.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • ICICI Prudential Life Insurance
    "Good Customer service and user friendly app"
    0.5 4.0/5 "Great!"
    The policy is very good in terms of customer care service and the app. I feel the premium are little bit high. I bought this policy through agent. Because of the claim ratio i have taken this policy. Total tenure period the policy upto 60 years of my age. I make the payment through the app.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • LIC Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using life insurance with Life insurance corporation of India. there agent had clearly explain me about the service, the policy benefit.and there coverage, the premium amount they have charged me was in nominal .i use to pay premium on yearly basis, so far they have not charged me any hidden charges.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 21, 2019
  • Aegon Life Life Insurance
    "Good Policy"
    0.5 4.0/5 "Great!"
    I have been holding the term insurance from the Aegon. Because of the brand, i have selected the Aegon. I have purchased the policy 6 months before. I used to make the payment through online. I'm satisfied with the sum assured amount which they have provided to me.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 20, 2019
  • ICICI Prudential Life Insurance
    "Excellent service"
    0.5 5.0/5 "Blown Away!"
    I have been using my term insurance with ICICI bank,the agent had clearly explain me about the policy and benefit coverage, and i use to pay premium amount on monthly basis.they have charged me premium nominal,they have charged me up to 712 on monthly.and my premium amount use to get auto debited from my account.
    Was this review helpful? 0
    , bangalore
    Reviewed on Jan 20, 2019
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