Buy Term Insurance Based on Your Needs | Kuber Mindz

By | 28/08/2018

India’s First Free Online/On-call Financial Advisory Portal – MoneyMindz

    So you know the importance of Term Insurance and why you might need it. You realize that you need to keep yourself covered so that in case something happens to you, your dependents will be taken care of with the insurance amount. If you don’t have dependents or if you have debts, then the insurance amount will be issued to clear the debt.

You have gone through the Terms and Conditions of the policy, including the exclusions. You know what is covered and what is not. Then you pause and ponder for a moment “What if the insurer rejects my claim?” Moneymindz, India’s First Free Online Financial Advisory

You might also consider buying two term insurance plans just in case one insurance claim gets rejected. However, you shouldn’t be doing that. The reason is that a claim is usually rejected if you have given false information, concealed something crucial about your lifestyle, past health, family history, etc. from the company, or if there are exclusions based on what you claim insurance for. For instance, if there is exception for theft, then if you are robbed you cannot claim the insurance amount.

Buying two Term insurance policies will only make you pay more for the same. Instead of doing that, you need to evaluate your protection needs and purchase insurance according to it. If you live in a war affected area, go for a Term Insurance Plan that offers cover in case of another war/terrorist attack. Moneymindz, India’s First Free On call Financial Advisory


If you are worried that your claim may get rejected, ensure:-

  1. You aren’t concealing medical history of yourself and family
  2. You haven’t concealed your lifestyle diseases, addictions like smoking, drinking, etc
  3. You have provided all the information with honesty
  4. You pay all premiums regularly
  5. You are punctual in paying premiums
  6. You have read the Terms and Conditions of the policy
  7. You are purchasing the policy according to your needs
  8. You have documents to prove that you indeed need insurance claim at the time of distress

Keeping these things in mind, you don’t have to worry about claim rejection. Continue with the plan. At the end of the day, your requirements matter more. Therefore you ought to go for the Insurance product that suits your needs.

For more information visit or give a missed call to 022-62116588

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