Does a life insurance cover natural causes?
A life insurance policy has the concept of insurance policy exclusion rider which lists the circumstances it will not cover. For instance, there is a case of unnatural death, the firm offering the insurance policy will first investigate the circumstance and then settle for the claim. In this article, we will provide you with the details in which a life insurance covers claims and the situations in which it doesn’t.
The life insurance exclusion rider often does not cover claims that result due to lifestyle diseases. This may include heavy smoking or extreme alcohol consumption. However, in any case, the firm is supposed to investigate extensively before settling for a claim. The insurance does this with the help of its own team of medical experts who can confirm the death claim.
Circumstances in which life insurance policy does not cover claims:
* In case of benefits for critical illness or accidental death the money will not be covered in the following cases: overdose of drugs, overconsumption of alcohol, in case of a war, when engaged in a life endangered activity, if the customer is engaged in criminal activities, if there are complications that arise during pregnancy and childbirth or death that occurs due to pre-existing disease.
* Lifestyle diseases: This normally includes customers that are regular smokers. In case the one availing the service has concealed information regarding his lifestyle that includes smoking, the insurance policy will not likely cover the claim. Smokers are more likely to have lifestyle diseases and thus even if they reveal the fact that they smoke, they shall be charged more premiums.
Life insurance companies promise to settle for claims in case of accidents. However, they are unlikely to cover accidents that are caused due to heavy alcohol consumption at the time of the accident or in case of any other intoxication.
Tips to remember before opting for the best life insurance policy
* Research extensively: When going for a term life insurance service research the life insurance premium, the prices and the planning thoroughly. You can always use the internet for it. To make sure that your life insurance covers natural deaths, read the contract and the terms of service extensively on the internet. Buy a life insurance that has the least number of life insurance exclusion riders and covers important risks. It is extremely important to read the fine print if you are looking for exclusions that will cover critical illness.
* Know about the life insurance quotes: Even for this, you need to make use of the internet. Life insurance quotes will make you aware of the best life insurance policies and prices available in the market. If you want to make sure that your life insurance covers natural deaths, you better buy a long-term life insurance policy that has very fewer chances of greater premiums. In case of natural death, a life insurance policy is supposed to settle for the claim without much trouble, like pass the savings to the existent heir. One should also do a similar research in case he is planning to opt for life insurance online.
* Go for cheap life insurance policies: Life insurance policies that have a lesser premium due to the fact that they are low load or no load life insurance services will not only help you save more money but will cover claims that arise due to natural death. However even when apply for life insurance policies, one should be careful that it covers greater risks and has little exclusion. Further, if one is a smoker or is an indulgent customer he should be honest enough to own up to his lifestyle and pay the required premium for such life insurance.