Rajesh Kumar July 12, 2013 Share this interaction Share this Facebook 0 Twitter 0 I am 35. I was suffering from mental disease for some years. I am taking medicines and now normal since 2010.I want term plan of 30 lac.Can I get insurance if I disclose it in proposal form?What about claim if I don"t disclose it and dies with some other disease or by accident or natural death after 7 or 10 years? please guide me. (Rajesh,kanpur). Reply to this Response(s) MIC Staff July 13, 2013 : Answered in 13 Hours What is the basic purpose of the Term Plan that you wish to buy? Is it just to get the plan issued or is it to get the claim if something happens to you If the latter reason is the basic reason why you want to apply for a Term Plan, which is a pure protection plan, then there should be no ambiguity about not disclosing any material information about you or your family or health. Because, if you do not disclose now, you might be succesful in issuing the plan, but if you die within the policy tenure and the policy triggers a Death Claim, there is bound to be investigation. And if by any chance it is extablished that you had a mental disorder which is a fact you had supressed, then the insurance company might repudiate your claim on grounds on Non-Disclosure or Misrepresentation of Material Facts, irrespective of the reason for your death. And at that time, you would not be there to fight for the same and your family would anyways be in emotional loss, then who would fight for the cause? And the basic purpose for a Term Plan is to ease your family members of the Financial Trouble though you can do nothing about the emotioanl loss. And in such a case, the basic purpose gets defeated. So, my advise is: Please apply for a Term Plan with stating about your previous mental state and check if they accept your policy normally or with a loading or at all. Whatever be the case, it is the best for you such that you are aware that at least the insurance comapny will not trouble at the time of claim disbursal. And let me also clarify that since there is no strict rule for underwriting, you may opt for the Term Plan and leave the same on the jurisdiction of the Insurance Underwriters whether or not they accept the risk of your life. Hope your policy gets through and hope I have addressed your concerns.. Submit Reply to this Did you find this useful? 0 0
