Many questions often arise in our mind while taking insurance. Term plan is considered to be a very popular plan among the people because this plan provides financial assistance to a person’s family in his absence. Let us know some questions related to this insurance.
Term Plan or Term Insurance is one of the popular policies among various types of insurance policies in the country. The middle class makes every effort to keep their family happy and financially strong. Even after this, sometimes such situations arise where there is a crisis in the family.
Insurance policy comes in handy in this hour of crisis. Term plan provides financial help to your family in case of any untoward incident. Many questions arise in our mind while taking an insurance policy, one such question is that if the policyholder dies or murders on the very next day of taking the term plan, will his nominee get the money. Today we are going to tell you about this.
There is no waiting period
If a policyholder dies in a term plan, the insurance company pays the sum assured to the nominee of the policyholder. Term insurance covers natural death, death due to illness, death due to accident. In case of suicide, there may be a waiting period of one year to get the money under the term plan.
How to claim insurance after murder
If a person has taken term insurance today and he is murdered tomorrow, will he get the insurance money in such a situation. Answer is yes. Insurance companies will pay the full money to the nominee, the only condition is that the role of that nominee should not be in the murder of the policyholder.
If the nominee is accused of murder, then in this situation the insurance company can refuse to pay the insurance money and the nominee will not get the money until the nominee is proved innocent by the court. Apart from this, the insurance company can refuse to pay the insurance money when the person taking the insurance is involved in some criminal activity and during this he dies.
How does the claim get rejected?
At the time of taking a term plan, the insurance company takes a complete health report from the person taking the insurance , but at that time the person taking the insurance hides his illness and dies, then even in this situation the insurance company can refuse to pay the money.
Nominee will not get even a single penny. Often people hide their illness or any bad habit in order to pay less premium.
