Prons & Cons – Term Insurance Plans with or without medical tests

POSTED BY ravindranath ON November 9, 2013 8:20 am ONE COMMENT

Please could you let us know whether the claims are settled in case of death (normal) of the the policy holder of a term insurance policy only after completion of a medical test or post mortem report by the insurance company subject to their satisfaction …for term insurance policies from Aegon Religare / ICICI/ HDFC/ Kotak/SBI etc….Does the legal heirs or relatives of the deceased have the responsibility to inform the respective insurance company immediately after the death of the insured ?

If the post mortem report content has deviations from the facts mentioned by the insured at the time of policy approval , which may be due to the changes in health condition of the insured (i.e. as age increases) from the policy enforcement date till his/her death, then there is every possibility that the claim can be rejected….What recourse would the legal heirs have in these scenarios whether the term insurance policies are approved with medical tests or without medical tests?

I am a bit confused after going through all the Q&A and the pros & cons especially for term insurance policies without medical tests.

Good job….keep up the good work going in future also……


One reply on this article “Prons & Cons – Term Insurance Plans with or without medical tests”

  1. ashalanshu says:

    Dear Ravindra, let’s truy with an example to understand your query. Say At the time of purchase you were not diebetic. Policy was issued with out Medical. After 10-15 Y, you died due to diabetes. In this case, your fear is, due to cause of death, Insurance Company may deny the claim. No my dear friend, section 45 ‘ll come to your legal hiers rescue and insurer can not deny the claim after initial 2Y into the policy for concealment of fact.



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