Term Insurance – To reveal uncertain illness?

POSTED BY sunil ON January 30, 2011 9:11 pm COMMENTS (4)

Following you people’s sincere advices on revealing every health information..
I decided to reveal, my gastro related issues and my back pain problem. etc
But when I was asked to scan my spine to diagonise my back pain problem,
—found disc prolapse causing back pain
–additionaly it’s found that there is a tumour in my spine which is causing nothing now, but may cause disability or unexpected thing in future.
Should I need to reveal that too? If so, will my policy be accepted ( by LIC ) ?
LIC having most claim settlement ratio, shall i ignore the last info? bcoz taking no term is better than this ingnoring one such info?
plz throw some light on these…

4 replies on this article “Term Insurance – To reveal uncertain illness?”

  1. sunil says:

    But thinking out of the box ( w.r.to LIC only,) Its well know that nobody discloses the full medical info to LIC and even I didn’t disclose while taking my previous LIC endowment policies. I came to know these facts only in last month only.

    Though there are lot of polices with undisclosed medical reports, LIC is consistent about 96%+ claim ratio, so it clearly shows that non disclosing info will lead to probability of 96:4 ratio of successful claiming…
    Please post your views on these…

    1. Sunil

      No , what do you think about the 4% rejection ? Who is rejected in that case !

  2. Atul says:

    Hi Sunil,

    First ask yourself why you are taking Term Insurance so that if something happens to you in future then your dependents have sufficient money to take care of liabilities.

    Again think if you dont disclose the truth now and for gods sake something happens to you because of one of the above illness then claim will not be settled and your dependents have to run pillar to pillar.

    So its always good to tell the truth.



  3. jitendra solanki says:


    Life Insurance is a contract which is signed on a Good Faith.

    While claiming, the company will verify form their panel too.If they found at that point of time that you did not disclosed any information which you knew, they will reject the claim.

    In all probability i will advise you to declare whatever info you have on your illness.


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