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Disclosing therapy/counselling treatment for pyschological issues
Posted By sanket pusalkar MEMBER 14 May, 2021

Hi Team,

My question is related to disclosing the treatment/therapy/counselling one might be taking for some psychological issues.

For example, I have been seeing a therapist for some time now for help with tackling personal and work related issues.

I discussed with my therapist about my intention to purchase term insurance and about the proposal form requiring me to fill info about any psychological treatment I may be having.

Here's what my therapist had to say.

'My issues do not fall under any clinically defined/classified disorders e.g. Depression/ Anxiety disorder etc, there are a bit of anxiety and depression traits but nothing that is defined clinically.

And I am also not taking any medicines for these issues, hence it is ok if I do not disclose info about these therapy sessions since it may add aditional complexity while purchasing term plan'

I need guidance regarding this scenario, what is the best practice followed in this case?Under what circumstances are mental treatments needed to be reported.

Thanks and Regards.

ICICI iprotect Term insurance with coverage for 34 critical illnesses
Posted By Kovid Sinha MEMBER 13 May, 2021

I'm considering buying ICICI Prudential iprotect Term insurance with coverage for 34 critical illnesses. This is a link to the product:

For my age, they require me to pay a premium of 93000 per year for a coverage of 1 crore rupees. while the premium is very high, the compelling highlight of the product is that I get paid 1 crore rupee as soon as I am diagnosed with one of the 34 critical illnesses covered by this insurance. Apart from this they also promise to pay an amount of 83000 per month for 10 years after the death of the insured.

They claim a payout percentage of 97%+

While I fully trust ICICI and HDFC as organizations, could there be pitfalls that I could be blind to?

ICICI not closing term life account online
Posted By Kautilya Bhardwaj MEMBER 04 May, 2021


So I want to surrender/close my iProtect smart term plan. The support team there mentioned that term plans can't be surrendered. I'm required to not pay my premiums to mark the policy as lapsed. Now they have an auto-debit enabled on my CC. When I asked them to disable this they cited some "existing security guidelines for their policyholders considering the sensitivity of the data" and mentioned that I'm required to visit their branch office to disable the auto-debit on my CC, which they also know is not possible provided the covid-19 lockdowns and all.

When everything can be processed online, from policy issuance to claim application, this simply looks like an activity to get me hooked as long as possible.

This seems unethical & crooked to me, what are my available options?

In what way an increasing life cover could be a better option?
Posted By Kautilya Bhardwaj MEMBER 04 May, 2021

Beshak ratings introduced the idea of increasing life cover options with term insurance policies. On checking the details of the same I found -

  • The difference in premium for increasing life cover vs usual life cover option is ~80-100% more.
  • The increasing cover option is also based on a simple interest of 5%/8%/10%. Not linked to CPI/purchase power/growth in individual's earnings.
  • Max increase in the cover is up to 2X of the base cover.

Due to the above facts, it is not making any sense to opt-in for the increasing life cover option. Specially provided the fact that I'm eligible for life stage benefits while marrying, getting a home loan, or having children. Am I missing something?

Max Life : Riders for Critical Illness or Separate Standalone policy
Posted By Aravind Kumar.K MEMBER 03 May, 2021


first of all I would liek to thank the Beshak team for the Term Insurance ebook, it has been greatly helpful.

I was considering the Max Life Term plans and was confused between opting for the riders for critical illness or going for a standalone policy. The Beshal Guide recommends separate cover. But a comparison between the rider in the MAx Life Smart Term (and smart secure plus) policy and the Max Life stand-alone critical illness policy shows a higher premium for the stand-alone policy for a similar coverage.

Thereore request your help in providing additional clarifications on this. Are there insurance providers options you recommend considering ?

Many Thanks for the help.

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