What Will Happen to My Term Insurance If I’m in Coma?

A coma is a long unconsciousness because of insufficient functioning of the brain. In this, the body of an affected individual fails to respond to any external stimuli. This unresponsive phase can be caused by a traumatic shock to the head, deprivation of oxygen from drowning or choking, contact with toxins, severe infection, or an increase in blood sugar levels. 

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In most cases, term insurance plans don’t pay any maturity benefits as long as the life assured survives. If you are in a disabled condition or a coma, your term insurance cover should remain in force, provided your premium amounts are paid, till your demise or till the expiration of the policy term. Having add-on cover along with Term Insurance, such as critical illness can help decrease the impact of these events so that the affected person can focus on the treatment rather than panicking about the hospital expenses and premium payment for term insurance.

What are Critical Illness Policies?

Critical Illness are additional riders that come along with Term Insurance plans, which are specifically designed for protection from life-threatening diseases and illnesses. These ailments involve long-term treatments, multiple visits to the hospital, consultation prices, prescription bills, and others. They can add an extreme financial burden on an individual who is going through such a circumstance. However, a critical illness add on rider helps by paying the expenses in lump sum form for all the above-described expenditures.

Does Term Insurance Policy Covers Coma?

Yes, a term insurance plan covers coma along when a critical illness rider is purchased along with a base plan.

Generally, insurers or banks have their critical illness categories with their respective T&Cs, so it is somewhat common to find differences across such plans. Critical illness riders cover treatment for certain ailments that are life-threatening such as heart attack, stroke, cancer, coma, and AIDS etc.

Key Features of Critical Illness Rider with Term Insurance Plan in Case of Coma

There are several benefits of adding a critical illness rider benefit. A few of them are mentioned below:

  • It pays a lump sum amount of life cover

  • Premium amount remains same throughout the policy term which means that the premium rate doesn’t increase once you get diagnosed with coma

  • This plan is applicable within and outside India. All T&Cs applied.

  • Get tax benefits u/s 80D of the IT Act, 1961.

  • Provides you a large coverage that can take care of your medical and daily expenses

What Insurance Companies Provide Term Insurance in Case of Coma?

Here is a list of term insurance companies that provides critical illness cover along with the base plan. All these companies covers coma of specified severity.

Max Life Insurance Company 64 Critical Illnesses Covered
HDFC Life Insurance Company 19 Critical Illnesses Covered
Tata AIA Life Insurance Company 40+ Critical Illnesses Covered
ICICI Prudential Life Insurance 34 Critical Illnesses Covered
PNB MetLife Insurance 35 Critical Illnesses Covered
Kotak Life Insurance 37 Critical Illnesses Covered
Edelweiss Life Insurance 12 Critical Illnesses Covered
India First Life Insurance 13 Critical Illnesses Covered

How Do You Receive the Critical Illness Benefit in Case of Coma?

With most of the term plans, you have the flexibility to choose how you want to receive the death benefit or rider benefit amount.

As explained, the critical illness benefit will be paid if one goes through a stated critical illness such as Coma, listed on the plan documents. You get the full benefit amount for critical illnesses covered and the benefit amount payable is equivalent to the critical illness coverage that you have chosen at the policy commencement.

Various plans may also waive off the future premium if the policyholder is permanently disabled or goes into coma. This is because, in such cases, you may lose your stable income source and may not be able to pay future amounts of premiums.

For example: If Hemant opts for a 1 crore cover (sum assured) amount with a critical illness (CI) benefit of additional 50 Lakhs, he will be paid the CI benefit of 50 Lakhs upon the detection of any coma of specified severity and Base Life Cover of Rs 1 crore continues as it is.

Generally, three options are provided to receive Critical Illness Benefit:

  • You can choose to get the benefit payout in a one-time lump sum payment.

  • You can select to receive the benefit amount as regular income

  • You can also choose to receive the payout as a combination of both regular income and lump sum payment

Wrapping It Up!

Term insurance plans aim to provide overall protection to you and your family members in case of an unfortunate event. However, to secure yourself against accidents and illnesses that might lead to coma, you have to opt for add-ons/rider benefits by paying some additional premium amount over and above the base amount of premium required for the term plan.

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