Can I buy a term insurance plan without details of past illnesses?

Some life insurance accidental disability riders may not cover partial disability.
Some life insurance accidental disability riders may not cover partial disability.

Summary

It’s likely that the insurer will require you to undergo a medical examination. If the current insurer still declines your application, you can withdraw it and apply with a different insurer.

I am 34 years old. I had recently applied for term insurance from a leading insurer and had disclosed that I had undergone treatment for jaundice 12 years ago. The insurer is asking me for details about the treatment, but I do not have these details. What should I do to get term coverage as I don’t have any illnesses as such now.

—Name withheld on request

Insurers often request information about past illnesses, including jaundice. If you don’t have any medical records from your treatment 12 years ago, a current medical fitness certificate mentioning your jaundice history can be obtained.

Additionally, including the results of your latest health check-up can provide a reference point for the insurer.

It’s likely that the insurer will require you to undergo a medical examination. If the current insurer still declines your application, you can withdraw it and apply with a different insurer.

I am 30 years old and already have health and term life insurance. For more comprehensive coverage, I would also like to buy a disability rider. Please let me know how it works.

Name withheld on request

You can purchase disability coverage in two ways. The first option is to buy an accidental death and disability rider with your term insurance policy. The second option is to purchase a separate personal accident insurance policy from a general insurer.

In either case, the policy will pay the sum insured in the event of accidental death or permanent total disability. For example, permanent total disability includes the loss of both limbs or both eyes. If the policyholder experiences partial permanent disability, a fixed portion of the sum insured will be paid. The specific amount payable for each type of disability is outlined in the policy. For instance, the loss of a thumb is considered a form of partial permanent disability.

Please note that some life insurance accidental disability riders may not cover partial disability. In such cases, it is recommended to buy the plan from a general insurance company.

I am 32 years old and got married recently. I am covered by my corporate health policy but want to buy health insurance for my wife. Please suggest whether I should buy a family floater plan or an individual policy for my wife. Also, what factors should I consider before buying health Insurance?

Name withheld on request

While buying a health insurance consider the following aspects. First, the sum assured should be equal to your annual income or at least 10 lakh.

Second, ensure that the plan has no sub-limits on room rent or capping on specific diseases. Third, look for specific add-ons, which may be relevant to you, such as maternity benefit.

Abhishek Bondia is principal officer and managing director, SecureNow.in.

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