Is an individual diagnosed with Hypertrophic Cardiomyopathy (Age 23) eligible to get a term insurance?
13 Oct, 2020 by S Banerjee
If the individual is eligible, which insurers in India offers insurance to such risky client? I want to apply for term insurance but most agents I interacted with suggests me not to declare the pre existing illness. So I want to apply for term insurance online.
Hey Mr Banerjee,
Try out term insurance from any of the top life insurance companies in India - LIC, SBI Life, HDFC Standard, ICICI Pru. Declare all of your previously known medical history to the insurers. Agents are trying to fleece you telling you not to declare. Due to non-disclosure, insurance company can cancel your policy and reject future claim. You'll lose all your premiums.
Now your next question would be, who would give policy to someone with cardiomyopathy history. This is based on underwriting (risk evaluation) process of an insurer, hard for me to predict who will cover the risk. Unfortunately you'll have to go through the policy application process with your selected insurers and see who accepts the proposal.