Dear Sir,
The reason for buying both the plans is that i am afraid or not confident the insurance company would pay the lum sum amount in case of an event in Term policy (huge amount even if i choose Rs.25 lakhs category)..
but i got hope and confident about jeevan anand that atleast they will pay the benefits bcoz i am gonna choose 5 lakhs sum assured.
kindly could u give me advice or hope to choose anyone finally sir.
regards.
1 Answers
Dear,
It is just your mis-conception. If so, then there is no point in buying a Term plan.
Kindly provide all the required details in proposal form honestly and accurately. That's it! Your insurance company has to honor the claims.
Also,note that
- As per the recent amendment to Section 45 of the Insurance Act, If your policy is 3 yrs old, no matter what happens, the life insurance company will not be able to deny the claims. So, your life insurance company has only 3 years in hand to reject the policy based on any mis-representation or mis-statement. Once 3 policy years are completed then the life insurance company has to settle the claims and can not reject them.
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