Postponed vs Rejected policy status in Term Insurance
I am 34 & had applied for the term insurance this month through Max Life. I paid up the premium amount & underwent medical examination. Today, they informed me that the policy has been moved in postponed state as I am under treatment (for epilepsy) currently.
1) What is postponed state, Am I still eligible for policy from them or I should consider this as policy rejection.
2) Will my family get insured amount during claim if I get policy from them.
3) Should I try in other company if they are postponing for some duration,
4) What are other alternates to safeguard my family instead of term insurance in my absence?