Life & Health Insurance

Life Insurance is a contract that provides financial compensation to your nominee in case of your untimely death. It ensures your family’s financial stability even when you’re not around.

Health Insurance covers medical expenses for illnesses, surgeries, hospital stays, and other health-related costs. It protects you from unexpected financial burdens due to health emergencies.

Insurance acts as a safety net. Life insurance protects your dependents financially, while health insurance helps cover high medical costs and ensures quality treatment without financial stress.

Common types include Term Insurance, Whole Life Plans, Endowment Plans, ULIPs, and Money Back Plans.

Term Insurance provides a large sum assured at a low premium for a fixed duration. It pays your nominee if you pass away during the term of the policy.

Medical tests are required for some policies based on your age, sum assured, and health history. It helps insurers assess the risk accurately.

A pre-existing disease is a medical condition that you already had before buying the policy. Coverage for such conditions may start after a waiting period.

The waiting period is the initial duration after policy purchase during which certain claims (like pre-existing diseases or maternity) are not accepted. It usually ranges from 1 to 4 years.

Yes, you can have multiple life and health policies. In fact, having separate policies for term life, critical illness, and medical insurance is often recommended.

Yes. Premiums paid for life insurance (under Section 80C) and health insurance (under Section 80D) are eligible for tax deductions as per the Income Tax Act.

Health insurance claims can be made via cashless hospitalization at network hospitals or through reimbursement after treatment. Always inform the insurer or TPA at the time of admission.

You usually get a grace period (typically 15–30 days). If payment is still missed, the policy may lapse, and benefits will stop. Some policies allow revival with conditions.