Does Life Insurance Cover Illness?

Yes, A Critical Illness Insurance policy covers the insured against life-threatening critical diseases such as cancer, heart attack, renal failure, etc. In case optional Critical Illness Coverage is included in your life insurance plan, you will get a lump-sum payout upon diagnosis of any critical illness...Read More

Do I Buy Term Insurance if I’m Covered under my Company’s Group Policy?

Employer sponsored life insurance policy would be valid only till the time you are on the payroll of the organization. It is advisable to have a separate term insurance plan after analyzing your liabilities and outstanding loans to maintain the healthy financial condition of your family in case of your sudden demise. It can also be noted that the company sponsored life insurance coverage would not be sufficient to meet your financial goals as the company offers minimum life insurance coverage without considering your liabilities.

Do I need to buy term insurance even if I am covered under my companys group policy?

Employer sponsored life insurance policy would be valid only till the time you are on the payroll of the organization. If is advisable to have a separate term insurance plan after analysing your liabilities and outstanding loans to maintain a healthy financial condition of your family in case of your sudden demise. It can also be noted that the company sponsored life insurance coverage would not be sufficient to meet your financial goals as the company offers minimum life insurance coverage without considering your liabilities.

Does Life Insurance Cover Homicide?

Yes, Life Insurance Cover Homicide but to get the claim amount you have to do is provide the death certificate along with the FIR and post mortem report. In case the murder is committed by the nominee, the insurance company will reject the claim.

Does Life Insurance Cover Natural Death?

Yes, life insurance covers you from both natural deaths and accidental deaths. There is a natural death cover in term insurance in case of death due to any illness or diseases or old age is termed as Natural death in life insurance while any death as a result of an accident is known as Accidental death.

Does Life Insurance Cover Terminal Illness?

Yes, life insurance covers terminal illnesses. Terminal illness is a disease that cannot be cured and the life expectancy is less than 12 months. If you buy a terminal illness cover, Life Insurance Company can give you lump-sum payouts in case of diagnosis of terminal illnesses.

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