Critical Insurance – Few questions

POSTED BY Prasoon ON May 22, 2012 12:00 pm COMMENTS (6)

For most of the Critical Insurance Policies – The benefit amount is payable once the disease is diagnosed meeting specific criteria and the insured survives 30 days after the diagnosis.

Let’s say that the person dies on 32nd days of the diagnosis.

To make a claim is it necessary to be alive, or can claim be made by family members as well on the 33rd day (i.e. after the death)?

Also, if claim is made by insured person on 31st day, and on 32nd day person dies, will the family get claim amount?

6 replies on this article “Critical Insurance – Few questions”

  1. Prasoon says:

    Thanks Ashal. Please confirm if my understanding is correct.

    Claim can be filed as soon as CI is diagnosed. If company accepts the claim, then after 30 days, insured needs to provide proof of life to the company. After that claim will be honoured, whether person is alive or dead.

    1. Dear Prasoon, Yes, the claim can (actually it should) be filed as soon as the CI is diagnosed.

      Thanks

      Ashal

      1. Prasoon says:

        And then 30 days after insurer checks if person is alive or not? Once it gets proved that the person survived 30 days, claim will get honoured – whether person is alive or dead?

        1. Dear Prasoon, yes, once that 30 day alive period is confirmed, the insurer ‘ll honor the claim.

          Thanks

          Ashal

  2. Dear Prasoon, yes the family members can also file a claim for the deceased. Even if the claim was filed by the insured person, the family ‘ll get the claim amount.

    Thanks

    Ashal

    1. Dear Prasoon, in addition to my above query, the moment, the CI is diagnosed, the claim can be filed. So it’s the waiting period of 30 days to honor claim & not to file a claim.

      Thanks

      Ashal

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