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Wondering, if death by a heart attack covered under term insurance cover? Many insurers charge a hefty premium for term insurance if you have pre-existing critical diseases. Let us discuss the maximum term insurance cover you can avail and if it covers death by a heart attack.
If you are a heart patient, you might find it difficult to buy a term plan as compared to people who do not have such an illness. If you have any heart issue and you are looking for the best term plan, you may like to consider the below questions:
Yes, you would be glad to know that term plans do offer coverage for death that occurs due to heart attack. Heart attacks are generally considered under the natural death criteria and so they get coverage as term insurance cover natural death. However, there are certain conditions to be considered.
If you fill the questionnaire or claim form perfectly and the result of the medical examination shows genuine reports, your term insurance plan will provide heart attack insurance coverage under your policy. But if the tests show misleading facts, in that case the claim may be rejected. So, it is better to buy a critical illness raider with your term plan to ensure that the policy covers critical illnesses.
Also Read: Best Term Insurance Plan in India 2022
If the insured who owns the health policy has no medical history of heart attack, he/she would be offered a term insurance plan with normal charges and taxes. So, in this case if the policyholder goes through a heart attack after he/she has bought the health policy, the insurer will cover it and provide a claim like in normal situations.
However, this may not be the case if the insured is a survivor of heart attack.
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If the insured has prior history of ailment or has undergone a heart attack in the past, it is liable on the insured to inform of the same before signing the policy papers. Normally, people try to hide such information in the pretext that they would be denied insurance. However, the fact is they can still avail an insurance plan with a heart ailment. Only thing is they might have to pay some extra taxes and charges. Also, they have to undergo medical examinations and detailed medical tests.
Also Read: IRDA Claim Settlement Ratio 2022
If the insured person or the policyholder hides or doesn’t communicate the details of the history of his/her heart attack while buying the policy, the insurer might dismiss or cancel the policy. They might reject a claim and also levy a fine on the policyholder by increasing the premium.
So, it is very essential to reveal all the details at the time of buying the insurance and be transparent with them.
Let us now discuss certain factors that need to be considered by heart patients while buying the best term insurance plans.
If you are a heart patient or have gone through a heart attack, you must reveal the following details to the insurer at the time of buying term insurance.
There are many benefits of buying term insurance. Along with other advantages, you get tax benefits under your term insurance cover under 80C or 80D of Income Tax Act. However, if you are considering buying a term insurance plan, it is good to buy a critical illness rider along with the plan so that you can easily meet your insurance and monetary requirements if need arises.
Further, you may check other details and seek answers to questions like does term insurance cover suicide or does term insurance cover death abroad. Once you clear all your doubts, you may buy the best term insurance policy you want.
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