Term Insurance

FAQs About Term Insurance Policy

• Q. What is term insurance?

  Ans: Term insurance is the purest and simplest form of life insurance policy, which offers comprehensive financial coverage to family members against any life uncertainty. On the premise of the term insurance plan purchased, the family gets the life cover or the sum assured in case the policyholder passes away untimely while the policy is still active.

• Q. What are the benefits of a term plan?

  Ans: A term insurance plan offers multiple benefits. Some of the key benefits of the term insurance plan are listed below:

  • Cost-effective Premium: An individual can get a high-value life cover from the term plan by paying a cost-effective premium amount. The term insurance premium amount can be made either monthly, half-yearly, or yearly. The earlier one buys the term insurance plan; the lower will be the premium amount that needs to be paid.
  • Easy to Understand: When it comes to buying the term plan, one of the prime features is that it is easy to understand. As it is a pure life cover, the term plan does not have the investment component. The individual will pay the premium and the insurance provider covers the life for a fixed period to offer the benefits of term insurance.
  • Additional Rider Benefit Options: The term insurance plan comes with different rider benefit options that can be chosen by the policyholder, which will enhance the base plan. These riders can be added to the term insurance plan by simply paying an additional nominal premium.
  • Death Benefit Payout Options: In case the policyholder passes away, the financial liabilities will fall on the family members. It is when the different payout options of the term plan play an important role. The dependents will get the lump sum amount when the policyholder is no more. This lump sum will enable the dependents to manage the financial liabilities. There is a term insurance plan that also gives the option to receive monthly income along with a lump sum amount as a death benefit. With the monthly income. The family finds it easy to manage the everyday expenses.
  • Tax Benefits: The term insurance plan also offers tax benefits. The term insurance premiums are tax-deductible and the payout comes with tax exemptions as per the prevailing tax laws. Under Section 80C, the premium paid remains tax exempted up to the limit of Rs 1.5 lakh in a year. The death benefit also remains tax exempted under Section 10(10D) of the IT Act.

• Q. What are the minimum and the maximum age to buy a term insurance policy?

  Ans: Anyone who intends to buy the term insurance policy should be between the age group of 18 years to 65 years and should have an income of at least Rs 2 lakh.

• Q. How much risk cover should I buy?

  Ans: How much risk cover you should buy primarily depends on your annual income. The general thumb rule says that risk cover should be 10 - 15 times of your annual income. It means if you are earning Rs 4 lakh/annum then you should buy a term risk cover of at least Rs 40 lakh. The idea is to arrange for the self-sustainability of dependents so that lifestyle can be maintained and future needs could be settled after the demise of a policyholder. This also depends on the age. Younger age people should and can buy higher term insurance cover – up to 25 times. This is because their dependents will take a longer time to be on their toes. To know more click here.

• Q. Is it possible for an NRI to buy a term insurance policy?

  Ans: Today the insurance companies in India do offer term insurance policies, which fulfill the insurance requirements of the NRI.

• Q. If my term insurance policy claim is rejected, whom should I contact?

  Ans: Even after submitting all the required documents and adhering to the rules your term insurance policy claim gets rejected you should immediately get in touch with the specific insurance company and seek help.

• Q. In case if I wish to cancel my term insurance policy, is it possible?

  Ans: Yes, if you wish to cancel the term insurance policy, you may do but within the free-look period offered within the plan.

• Q. Can I switch my term plan from one company to another if I get better benefits in another plan?

  Ans: Term insurance portability is not yet available and hence one cannot switch from one insurance company to another but you can surrender your policy and buy a new plan with desired benefits. However, surrendering a term policy is not recommended because that will cost you a lot as the entire term insurance premium paid towards the current plan will lapse without any return, and the new policy, which you will buy comes at a high cost since your age has increased. In such a case, it is advised to continue with your current term policy and buy another term insurance policy after declaring your current insurance plans, thus availing the benefits of both plans. For the term plans bought offline, one can consider closing them down after analyzing the cost difference. Generally, online term plans will be way cheaper with the age factor as well.

• Q. Is it possible to add a rider in an existing term insurance policy?

  Ans: Yes, if you wish to, you can add an optional rider to your existing term insurance policy by paying a nominal charge.

• Q. If I die in a foreign land, will my term insurance policy be effective?

  Ans: Once you have bought the term insurance policy, it will be effective and taken into consideration irrespective of the geographical location.

• Q. Why term insurance premium rates for a smoker are higher than that of a non-smoker?

  Ans: According to current rules and regulations, insurance companies charge a high premium of term plans from smokers or tobacco users than non-smokers as there is more risk involved in insuring a smoker. Also, a smoker becomes more susceptible to diseases, especially heart-related disorders, and therefore, increasing the risk for the insurer. To combat high risk, insurers charge higher term insurance premium rates from smokers. To know more click here.

• Q. Are there any benefits of buying insurance at an early age?

  Ans: Yes, buying term insurance at an early stage would entitle you to a lower premium on the policy. The earlier you buy an insurance policy; the lower will be your premium amount. Also, the chances of getting a policy are higher because of your good health.

• Q. Which are the traditional life Insurance instruments available?

  Ans: Traditional Insurance products consist of Term Insurance, Term with Return of premium, Endowment, and Whole Life Policies. The cash value increases every year as you pay the premiums under these policies. Some traditional life insurance policies are participating, that means they offer bonus and dividend to their customers.

• Q. Should I buy a term plan even if my employer has already covered me under group policy?

  Ans: Yes, it is always advised to buy individually to buy term plan even if you are covered under a group policy because:

• Q. What documents will I need to buy term insurance plan?

  Ans: Here List of documents required

  • Documents you need to buy term plan are:
  • Age proof (Voter’s ID card, Passport, Driving license, etc.)
  • Address proof (Voter’s ID card, Passport, Utility bills, etc.)
  • Photo identity proof (Passport, Voter’s ID card, PAN card, Driving license, etc.)
  • Recent passport size photographs Income proof (Salary slip, Form 16, ITR etc.)
  • Some insurance companies might need specific documents apart from these.

• Q. For how long should I buy a term plan?

  Ans: term insurance plan are beneficial if they are bought for the longest duration possible. A term insurance policy should cover the person until the age he intends to work. Also, late marriages and children at a high age mean responsibilities do not end at 60 years, which was earlier considered as a retirement age. Our financial experts at PolicyBazaar believe that a person needs coverage at least till 65 years, though it may vary as per circumstances. You should go for plans that offer you the flexibility of fixing the tenure. For example, a businessman might have planned for extended earning years and therefore, it makes sense to buy an income replacement plan.

• Q. Can I avail loan on term insurance plan?

  Ans: No, you can’t avail loans on term insurance plan because these policies do not have maturity benefits.

• Q. How can I change my communication address?

  Ans: You can get the changes done by visiting the branch office of your insurance company. Written communication is required. This can also be done via registered email id in case the branch is not easily accessible. Few insurers allow the change through the customer portal.

• Q. Will the term plan cover me if I am traveling abroad for business/leisure purposes?

  Ans: Yes, a term plan covers an insured even if he/she travels abroad for business/leisure purposes. However, if any such trip is scheduled at the time of buying the term insurance policy then the same should be mentioned in the proposal form.

• Q. What is the sum assured?

  Ans: Sum assured is usually referred to as the amount of insurance in a term plan. It is the amount that would be paid to the nominee in case of the death of the policyholder. Sum assured plays a major role in deciding the premium rates of a term insurance policy. Few policies also pay additional cover along with sum assured. This increases total life cover for the same sum assured.

• Q. Can I increase or decrease the value of the sum assured in the future?

  Ans: Slightly unrelated, there are a few plans, which have increased income facilities in their structure. It means, these term insurance plan offer the benefit of a monthly income increase every year. For example, HDFC Click2Protect Plus Increasing income, Max Life Increasing Monthly Income Plan, etc.

• Q. What is a premium paying term?

  Ans: It is a term during, which a policyholder pays a premium to the insurance company.

• Q. What is the death benefit?

  Ans: The amount received by nominees at the time of death of a policyholder is called the death benefit.

• Q. Who is a proposed insured?

  Ans: A proposed insured is a person whose interests are safeguarded by the insurance company. For instance, if you are an individual whose life is going to be covered under the life insurance policy then you will be called proposed insured.

• Q. What if I become an NRI after purchasing term insurance plan?

  Ans: Your term insurance plan coverage will remain active even if you become an NRI post-policy issuance. It is good to keep the insurer informed about the change in status though.

• Q. How does a life insurance company evaluate my risks?

  Ans: The life insurance company’s decision to insurer your life or not relies on the information you provide in the application form. The evaluation of your risk is determined by several factors such as your age, habits, occupation, and medical history. If you have any pre-existing medical condition then the insurer will raise the premium of the term insurance policy. The increase in premium is subject to the actual medical status of the policyholder and risk posed to his life.

• Q. Do term plans cover death due to natural disasters?

  Ans: Yes, term insurance plan cover death due to natural disasters, like flood, earthquake, storm, etc.

• Q. Does the insurance company cover death due to a terrorist attack?

  Ans: Yes, death due to terrorist attack/war/natural calamities is covered in the term insurance policy (unless specifically excluded by the insurance company) and the claim is settled if documentation is in order.

• Q. Who is a preferred non-smoker and how is an individual declared as a preferred non-smoker?

  Ans: Non-smoker refers to a person who does not consume tobacco in any form. A preferred non-smoker is the one who does not have any pre-existing medical conditions at the time of signing the term insurance policy. Below are the situational requirements to fall under this category: No use of tobacco or nicotine-based products in the last 12 months Cholesterol level not exceeding 280, with or without treatment Blood pressure not exceeding 152/92, with or without treatment No cardiovascular or cancer death of more than one parent before age 60 These customers generally fall under non-medical category – depending on their age. Preferred rates are applicable for this category if there is any differentiation by the insurer.

• Q. Can I get term insurance cover if I am a smoker or tobacco user?

  Ans: Yes, you will be entitled to get term insurance cover even if you are a smoker or tobacco user. However, the premium rates will be higher than a non-smoker. Do declare in the proposal form.

• Q. I am an occasional smoker. Do I need to declare myself as a tobacco user?

  Ans: Even if you are an occasional smoker, you need to declare yourself as a tobacco user in the proposal form.

• Q. I used to smoke earlier but now I have quit smoking. Shall I declare myself as a smoker or non-smoker?

  Ans: Anyone who has not consumed tobacco products in the last 5 years will be considered as a non-smoker. In your case, if you haven’t smoked for the last 5 years, you can declare yourself as a non-smoker in the proposal form. Usually, the time frame is mentioned in the proposal form.

• Q. Currently, I am a smoker but if I quit smoking a few years down the line, can I get my re-assessment has done and avail rebate on policy in the middle of the policy term?

  Ans: Once you have booked your term plan policy under smoker category, it is not possible to do re-assessment for a non-smoker category. Your term insurance policy will continue with the same premium rate. You can apply for a new one if you wish to. Chances are that the premium will become the same after those 5 years.

• Q. How do you decide if a customer is a non-smoker at the time of policy issuance?

  Ans: A customer needs to declare his tobacco and alcohol usage at the time of filling the proposal form. Also, the insurer conducts additional nicotine/continue medical test to confirm tobacco usage by a customer.

• Q. What would happen if I start taking alcohol after the policy issuance?

  Ans: If the insured starts smoking & drinking after buying the policy, it will not affect the base cover.

• Q. What is the policy number?

  Ans: A policy number is a unique identifier that attaches a policy to a specific individual. It is the number by, which the insurer keeps the track record of your term policy details.

• Q. Are policy conditions different for all term insurance plan?

  Ans: Yes, every policy has distinct features to meet the specific needs of the insured. The features that your policy holds will vary according to the plan and term of the policy. Hence, you must read the policy document and understand the policy conditions.

• Q. How do I know if the agent is authorized to sell life insurance policy?

  Ans: You must buy a term policy directly through the insurance company or an authorized agent. To check whether the agent is authorized to sell a life insurance policy or not, you can ask for his authorization card issued by IRDA (Insurance Regulatory and Development Authority). A safer option is to buy an online term plan!

• Q. Can I change the policy duration after the issuance of the policy?

  Ans: No, it is not possible to change the policy duration after its issuance. However, if you wish to increase the duration of the policy then a good idea is to buy a fresh policy with a longer duration.

• Q. Will my premium amount change during the policy tenure?

  Ans: No, the premium amount will not change during the policy tenure, provided you continue paying your term insurance premiums on time.

• Q. What are the different options to pay the premium?

  Ans: There are various options provided by insurance companies by, which you can pay your term insurance premiums. Policyholders can make their insurance premium payment via: National Electronic Fund Transfer (NEFT) Net Banking Credit card Debit card Electronic Clearing Services (ECS) Direct payment at branch offices

• Q. Is there any policy where I can get the money during the policy tenure?

  Ans: Yes, money back policy is the insurance plan under, which you can get money at regular intervals during the tenure of the policy. It is an anticipated endowment policy with an additional feature of receiving regular benefits during the policy term. Even if the installments are already paid to you in advance, the risk cover continues for the entire sum assured. In case you outlive the policy, the balance sum is paid back to you along with the accumulated bonus.

• Q. What is the age eligibility to buy an income replacement plan?

  Ans: Any individual lying in the age bracket of 18-65 years can opt for this plan. Even NRIs are allowed to buy this term plan.

• Q. What is the tenure of receiving money under the income replacement plan?

  Ans: Usually, there is no fixed period of payouts under the term plan and thus, it could vary between 10-20 years.

• Q. What is underwriting?

  Ans: Underwriting is a term used by insurance companies to evaluate the proposal and assess risks, ensuring that the cost of cover is proportionate to the risks faced by an individual. The evaluation is done based on information submitted by the proposer in the term insurance form along with the reports of medical tests. Usually, insurance companies take 3-4 days for underwriting after receiving all documents like medical certificates, financial and other relevant information.

• Q. What is the free look period?

  Ans: While forwarding policy documents to the policyholder, the insurance company will inform the insured by issuing a letter that they have 15 days from the date of receipt of documents to review all terms and conditions of the policy. If the insured disagrees with conditions, he has the option to return the policy and the insurance company has to refund the premium paid, subject to deductions. These 15 days is also called the cooling-off period. It remains the same for all products/policies.

• Q. Can I get a full refund of premium if I cancel my policy within the free-look period?

  Ans: Yes, if you bought a term insurance policy and later realized that you don’t want it then you can return it and get a refund. You can exercise this option within 15 days of receiving the policy document. Very nominal charges are deducted. For example, stamp duty charges, the premium on a pro-rata basis for the days covered along with medical charges, if applicable.

• Q. Can I change the date of birth after the free look period?

  Ans: Yes, you can change the date of birth after the free look period of the policy. Just submit the proof of age with the correct date of birth, along with a covering letter. However, if the age changes premium or eligibility, it will involve additional premium payment or cancellation.

• Q. What is a claim?

  Ans: A claim is a formal request to an insurance company asking for payment based on the terms of the policy. It is reviewed by the company and once approved the benefits are paid out to the insured or the beneficiary.

• Q. What parameters are considered by the company while asking the claimant to submit particular records/document?

  Ans: The term insurance company checks the sum at risk, circumstances of the claim, cause, and duration of the policy before asking the claimant to submit the documents. For example, in case of accidental death, the company requires a police report, post mortem report etc. while in case of death due to illness, the company calls for medical records.

• Q. Once all the requirements are submitted, how much time does the company take to settle the Claim?

  Ans: It generally takes 8 – 10 working days after all the documents, records, necessary forms are submitted, and documentation is completed. In case, the claim warrants further verification, the insurance company keeps the applicant informed of the same.

• Q. What will happen if death occurs within a year of policy purchase?

  Ans: If death occurs within a year of term insurance policy purchase, the insurance company will do a thorough investigation on the matter to strike out any chance of fraudulency or criminal intent. The nominee will get the entire amount of the assured money and the claim will settle within 180 days of submitting all the relevant and necessary documents of the early death claim to the insurance company.

• Q. Who is entitled to receive claim benefit?

  Ans: The nominee last recorded under the policy is entitled to receive the claim benefits in case of death of the policyholder.

• Q. What will happen if my claim is rejected and my nominees wish to re-apply for it?

  Ans: If your term insurance claim gets rejected your nominee can re-apply for it. For that, he will have to submit a written application to challenge the insurer’s decision of repudiation of your claim. If the nominee is not entertained by the insurance company he can approach the local insurance ombudsman (for claims up to Rs 20 lakh). He can even move to consumer court and claim for above Rs 20 lakh. Both the ombudsman and the consumer court have the power to compel the insurer to reconsider his decision.

• Q. What is IRDA?

  Ans: Insurance Regulatory Development Authority or IRDA, in short, is the apex body that oversees the insurance industry in India. Apart from protecting the interests of the policyholders, it promotes, regulates and makes sure that the development of the insurance industry in India is in order.

• Q. What are the IRDA guidelines about claim processing?

  Ans: According to IRDA guidelines, the company has to process a claim within 30 days. If the claim needs further verification, it should not take more than 6 months to settle. In case the company fails the whole procedure within 6 months the company will have to pay interest on the claim amount.

• Q. Should I pay my premiums through the agent?

  Ans: You can pay through the agent only if you are sure that he is IRDA authorized and provides you with the receipt after you pay the premium. But it is always better and reliable to pay your premiums directly to the insurance company itself.

• Q. Why should you split your desired sum assured between multiple policies?

  Ans: There are numerous benefits of splitting your money among multiple policies instead of sticking to only one policy. For example, instead of buying a 20/25years long plan, you can buy multiple policies with different maturity dates. This will help you manage your finances better through different stages of your life. Moreover, when you have multiple policies, the rejection of claim from one insurer will not matter most as long as you have other back up policies to file your claim. On the other hand, if you have only one policy and your claim gets rejected, the entire money would be lost. So it is always better to buy multiple policies instead of one.

• Q. How much premium will be raised in case there are issues with my medical condition?

  Ans: In case there are issues with your medical condition, your term insurance premium will increase. However, there is no fixed percentage of increase in premium. It is completely depended on the insurer’s decision as well as on the policy holder’s actual medical condition. Even you can reject the offer if you do not want the raise in your premium.

• Q. What is the nomination?

  Ans: Nomination is the act of authorizing another person the right to receive the policy money in case of death of the policyholder. The nominee is the person who, chosen by the policyholder, will receive the term insurance policy money in case of the policyholder’s death.

• Q. Can I change my nominee?

  Ans: Yes you can change your nominee just by filling up the nomination form and submitting it to the term insurance company anytime before the maturity date of your policy.

• Q. What details am I to provide about the nominees?

  Ans: While appointing a nominee you have to provide the details including his/her full name, address, age, and your relationship with your nominee. Make sure that the information you provide is correct to avoid any future complications.

• Q. What is the difference between a nomination and an assignment?

  Ans: Nomination means the right of the policyholder to appoint another person who will receive the policy money in case of death or unavailability of the policyholder. On the other hand, an Assignment is an act of legally transferring the rights of the policyholder (assignor) to another person (assignee).

• Q. What is the benefit of opting for riders/add-ons?

  Ans: The main benefit of riders/add-ons is that it provides additional insurance coverage on your existing term insurance policy. You can get riders/ add-ons by paying some extra amount on your basic policy premium.

• Q. In case I lose my policy document, how do I obtain a duplicate policy?

  Ans: You have to apply for a duplicate copy of your policy from the insurance company. You will also have to pay the necessary fees and execute the indemnity bond to get the duplicate policy.

• Q. How can I change my term insurance policy details?

  Ans: To change your policy detail you have to submit a written request either online or by visiting the insurance company office in person.

• Q. Can I change the frequency of payment for my term insurance policy?

  Ans: Yes, you can, but only in case of your term insurance policy renewals. If you were paying your term insurance premium annually (low frequency) you can change your frequency to pay half-yearly or quarterly (high frequency) or vice versa.

• Q. What do I need to do to surrender my term insurance policy?

  Ans: Either visit the Insurance Company office in person or submit the request online. You can also surrender your term insurance policy simply by not paying your term insurance premiums.

• Q. How does health condition affect premium rates?

  Ans: Term insurance premium rates are hugely affected by health conditions. The chances of a healthy person to be hospitalized are very low. In the same manner, a person having some pre-existing condition may have to be hospitalized more than once for, which he would have to pay higher premium rates or the disease may also be excluded from the policy coverage.

• Q. Is term life insurance worth buying?

  Ans: Term life insurance is the most basic form of life insurance and is worth your money as a term policy offers a death benefit to the family of the deceased in case of the sudden demise of the insured. The compensation amount is taxed-free.

• Q. What happens to term life insurance if you don't die?

  Ans: If you outlive your term life insurance, the term insurance policy ends as per the policy due date and no policy benefit will be offered.

• Q. What kinds of deaths are not covered in term insurance?

  Ans: No term insurance plan covers suicidal death, self-inflicted death; death due to sexually transmitted diseases, death due to involvement of criminal activities, death due to involvement of life-threatening activities, consumption of alcohol etc. are not covered.

• Q. What are the disadvantages of term insurance?

  Ans: The major disadvantages of term insurance are in case the policyholder outlives the policy tenure, no policy benefit is offered.

• Q. Do I get my money back at the end of term insurance?

  Ans: If you survive the policy tenure, you won’t get the money back. However, some term plans offer ‘return of premium’ benefit’, where the policyholder gets the premium amount returned.

• Q. Can you get cash in term insurance?

  Ans: No

• Q. Do you get life insurance if you are murdered?

  Ans: No

• Q. What is 1 crore term insurance?

  Ans: In such a policy, you will get 1 crore insurance coverage as a death benefit.

• Q. What happens to the money in a term life insurance when it expires?

  Ans: If a claim arises during the policy tenure, the insured’s family gets monetary assistance. If the policyholder survives to the term life insurance policy expiry date, no benefit is offered or the funds are forfeit

• Q. Do you need life insurance after 65?

  Ans: You need life insurance if your family is entirely dependent on you. When you retire you stop earning and thus no family dependency on you. Moreover, if there is sufficient retirement income, you probably don’t need life insurance.

• Q. Is natural death covered in term insurance?

  Ans: Life term insurance offers death benefit in case of death due to natural causes and accidental death.

• Q. What is the difference between life insurance and term insurance?

  Ans: The only difference between life and term insurance is- Term insurance only offers death benefits while a life insurance policy comes with dual benefits of death coverage and survival benefit. If the policyholder outlives the policy tenure, survival and maturity benefit are offered under a life insurance policy.

• Q. Should I buy a term plan or a traditional life insurance plan?

  Ans: Buying a term plan over a traditional life insurance policy is a smart move. Even though both these insurance plans provide financial help in case of the untimely death of the policyholder, the difference lies over their maturity benefits. In a traditional life insurance plan, the maturity benefits are ten times the premium amount. While with term insurance plans there are no maturity benefits, the net gains are higher than life insurance plans with maturity benefits. However, the choice should be based on your life goals.

• Q. Are deaths due to Coronavirus covered by Term Plan?

  Ans: Yes, deaths due to coronavirus are treated as general deaths by term insurance providers. The claims for such deaths are admissible if the Coronavirus was diagnosed post-issuance of the policy.

• Q. What is the policy term that I should select?

  Ans: If you are looking for online term insurance policy, you should choose a term plan that at least covers you up to the age of retirement or after a few years after your retirement. However, make sure the term insurance premium will not be a burden on you.

• Q. Is there any advantage of limited pay option in term insurance?

  Ans: The major benefit of a limited pay option is you’re free from paying a term insurance premium for a long policy period. If your policy premiums continue beyond retirement, the term insurance premium probably will be a burden on you. Term policy with limited pay options reduces the chances of policy lapse.

• Q. What is the solvency ratio in term insurance?

  Ans: The solvency ratio defines how financially strong an insurance provider is. If we consider private firms Sahara Life, DHFL Pramerica, Bajaj Allianz Life, Canara HSBC OBC etc. have a higher solvency ratio in the market. On the other hand, LIC and Future Generali are amongst the lowest solvency ratio. (Data culled from economictimes.com, the year 2017)

• Q. Is term insurance premium fixed?

  Ans: Term insurance premiums depend on various factors such as age, income, coverage and basis on these it is decided at the time of buying insurance. So, there is no fixed premium.

• Q. Does life insurance pay if you die of cancer?

  Ans: IIt entirely depends on the life insurance provider. If the policy offers coverage for cancer, then term insurance policy benefits will be provided in case of death due to cancer. If you already own life insurance, you can always have an option to opt for critical illness rider to get coverage for such critical illnesses that could cost a bomb.

• Q. What is the accidental cover in term insurance?

  Ans: An accidental term insurance policy covers the insured for death due to accident. It can be bought as add-on or rider cover with the basic life insurance cover. A lump sum amount is provided to the family in case of death or disability caused by an accident.

• Q. Do life insurance companies check your medical records?

  Ans: Yes. This clause is mandatory if the term insurance company doesn’t cover you for pre-existing illnesses.

• Q. What medical conditions affect life insurance?

  Ans: Below is some of the common health conditions that might affect your life insurance premium:

  • High cholesterol
  • High blood pressure
  • Heart-related diseases
  • Obesity
  • Diabetes
  • Cancer