Term Insurance Plans

Please fill the form to compare quotes from various insurance companies

Gender
Male Female
Tobacco User
Yes No
Type/Select Annual Income
Select annual income from list
Annual Income
* {{usertextincome}}
{{item.ActualIncomeText}} Type & select annual income from list
With date of birth
/ / Enter Correct Age(Min 18 yrs)
Type/Select City
Select a city from list
Living in
{{item.cityname}} {{citymatch}} Type and select a city from list
Mobile No.
Please enter valid mobile no.

Give Correct Information While Buying Insurance

| |

Always Disclose the Full Facts

Insurance agencies vary in what they cover and what they don't (the exclusions), so do not despair if you see that you have a particular condition which is not covered by any insurance scheme, nor should you get tempted to hide such condition. Read the key Policy information provided by the insurance company thoroughly so that you can understand what exactly the insurance plan is going to offer you, if there are clauses that do not support any specific condition that you are possessing, use that information to shop around.

Every company would have a rival who would be eager to take away its customer, if you are lucky some other insurance company would take care of the issues that your first insurance company has refused to take care of. Under no circumstance is it advisable to give wrong information as that might lead to some terrible consequences of Claim rejection at a time when you or your dependents are counting on it. Some important factors to keep in mind before you buy life insurance:

  • Make sure that the firm is authorized by IRDA authorized to sell insurance
  • Reveal the complete facts when applying for insurance because if you fail to do that, you could invalidate your policy which might result into claim rejection
  • Read the main policy information for exemptions – to ensure that you choose the right policy for you, maintaining complete honesty.

Types of Questions Asked

There are certain facts based on which the Insurer decides whether to sell you insurance or not, and at what price, these facts which might not appear relevant to you at times are extremely important to the insurance provider, as it forms the foundation of a contract between you and the insurer. Hence any discrepancy from the truth might result into nullification of your insurance plan. So it is important that you understand all the clause of the insurance and answer all questions very honestly. To be on the safer side, disclose the smallest details even if you feel it is remotely connected to your insurance policy. Checking out in advance the type of question that might be asked by any insurance company will give you a mental preparation.

Even though it may vary insurance companies will require information about:

  • Your age
  • Your health
  • Your habits (like if you are a smoker) and
  • If you have any Pre-existing disease

If you lie in any of the above factors which get proved later, you stand a complete chance of claim rejection.

Why Provide Correct Information?

  • One of the major reasons is accuracy, if you keep the facts and figures correct your insurance requirement calculation will be accurate.
  • Gives you a sense of security, as you are not in a continuous fear of losing the life insurance when the truth comes out to light.
  • It gives you the exact sense of affordability.