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Does Life Insurance Cover Death by a Heart Attack?

dateKnowledge Centre Team dateMay 27, 2021 views237 Views
Life Insurance and Heart Attack | Buy Life Insurance Plan

Life insurance policies are important and worthy, but the policyholders may still be unsure about the type of deaths it covers and if it covers death due to heart attacks or not. Learn more about the correlation between life insurance policies and heart attacks. Life insurance policies provide coverage for the financial protection of the family post the death of the policyholder, provided premium has to be paid timely throughout the lifetime.

It is also an important aspect of the family's financial planning in case of any unfortunate circumstances.

Why is it Important to have a Life Insurance Policy that Covers Heart Attack?

Safety is the ultimate satisfaction, and what could be a safer and prudent decision than buying a life insurance policy to safeguard the family's future. The financial obligation for his family's future and wellbeing makes it a compulsion to have a life insurance policy.

Moreover, the sedentary lifestyle and medical uncertainties may lead to a life-threatening or chronic disease like cardiac attacks and several heart-related diseases. As per the records, heart-related illness and diseases have increased by more than 53% in the last five years.

It's shocking to know that heart strokes cause one in 4 deaths in India, and in the year 2016, the estimated number of heart-stroke cases in India was 55 million and growing exponentially day by day. But still, certain myths and misconceptions prevail about the life insurance policies that make it a troubled process to have one.

Debunk life insurance myths and conceptions.

Does Life Insurance Cover Death by Heart Attack?

It does cover the death caused by heart attack as it comes under the natural death criteria. Still, there are certain terms to be adhered to.

The life insurance policy will naturally cover the heart attack if the medical tests and questionnaire are duly and genuinely filled. But if the tests and the responses provided turned out to be false and misleading and if you had an unrevealed heart attack history, then the claim may be denied on the grounds of deceiving information and fraud.

Hence, how the life insurance policy covers heart attack and deaths by heart attack can be comprehended in two ways.

  • Insured party not having any heart attack history

    Suppose an Insured party does not have any heart attack history. In that case, he will be provided with the life insurance policy with the normal terms and conditions, unlike a heart attack survivor.

    If the insurance policyholder suffers any heart attack post the policy agreement, then the life insurance company tends to cover the policy and provide a claim under normal circumstances.

  • Insured Party having heart attack history

    If the insurance policyholder had a heart attack history, he must communicate about the same at the time of the policy agreement. There exists a false belief that a heart attack survivor or a heart patient can't have a life insurance policy. They can, but subject to certain terms and conditions.

    In order to get a life insurance policy, post a heart attack, a high level of scrutiny and medical tests have to be done. Also, there are limited options and benefits available to the claimant's beneficiaries compared to all life insurance.

Learn how you can make claim settlement easy for your beneficiaries.

But suppose the insured party does not communicate or reveal the facts about the heart attack history, then upon disclosing the fact. In that case, the insurance provider may dismiss the policy and cancel the Claim or charge a penalty with increasing premiums.

Hence, it is of utmost importance to reveal each aspect with due diligence to the Insurance provider and maintain transparency with them for the good of both the parties, insurer and insured. Many life insurance policies provide coverage despite having a heart attack history, provided the terms and conditions are communicated in the Insurance Contract.

What does Life Insurance Policy Cover?

According to the Insurance Policy Regulations, The life insurance policy only covers death from natural causes and accidental deaths. The natural causes may be death due to any disease, suicide, accidents, or other particular reason.

What the life insurance policy focuses on is the rationale behind the death due to any health issues. Hence it mainly covers the death that occurred due to heart attack, cancer, stroke, kidney failures etc.

Life Insurance Policies post a cardiac arrest is a genre in itself for insurance policies. Canara HSBC Oriental Bank of Commerce Life Insurance has a wide range of Life Insurance Policies covering deaths related to a heart attack. iSelect Smart360 Term Plan offers cover for terminal illnesses along with providing life cover. Each curated carefully to claim better monetary benefits for unprecedented times. While buying a life insurance policy, what every other person cares about is just the premium and the coverage. What no one ever thinks is what it covers and what it doesn't. This can be avoided beforehand by just a slight awareness, and attention towards the policy bought and knowing it thoroughly.

This article is issued in the general public interest and meant for general information purposes only. Readers are advised to exercise their caution and not to rely on the contents of the article as conclusive in nature. Readers should research further or consult an expert in this regard.

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