Validity of health information for Term plan

POSTED BY Sanjay Sutar ON October 17, 2010 8:37 pm COMMENTS (3)

Hi,

I have query around Term Plan.

While taking Term Plan, everyone provides correct health information.

Let’s say my Blood pressure and other things are normal.

 

What if after 6 months by BP turns out be high or I suffer some problem that was not there at the time of medica test ?

How to handle such scenarios ?

If anything happens to me after that, will i be eligible for claim ?

 

 

3 replies on this article “Validity of health information for Term plan”

  1. Sanjay Sutar says:

    Hi Manish,

    As stated by you

    “Yes but when any material facts have been hide in Application which would affect the health history & premium insurance co. can reject the claim.”

    Material facts also include BP and other stuff. What if at the time of medical checkup BP found to be normal and after taking policy, I get high BP and hypertension.

    Now if anything happens to me, then Insurance company might say that information provided was wrong. Hence we can’t settle the claim.

  2. Manish Bansal says:

    @Sanjay

    YES 100 %
    becos at the time of application filing u were all right. Insurance co. has nothing to do with health scenario after insurance policy issuance .

    Yes but when any material facts have been hide in Application which would affect the health history & premium insurance co. can reject the claim. so always give correct information in Application about yourself as well as your family. Don’t just leave any column Blank if u are expected to fill that.

    You are also not required to inform insurance co. about any changes in health in future after taking policy.

  3. There is no need to inform insurance company in such situation. The company has already accepted your proposal and bound with a contract as mentioned in legal policy bond. In case of any unfortunate incident after that, no company can stop the claim.

    Hope it will help you.
    InvestmentKit.com

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