Precious Life – Term Insurance for Existing Health Problems


Many people get term insurance to cover their family in case of an unforeseen event. If the policyholder meets with an untimely demise, then term insurance gives them financial protection. A total sum assured is offered to the family of the policyholder. A term insurance plan covers the family with the death benefit.

However, there are people who have health problems. Purchasing a term plan is difficult for them. The insurers don’t offer many policies to people with existing health diseases.

What to do in such a situation?

Protecting family is one of the most important responsibilities in a person’s life. Normally, a term plan will not cover people with health problems. However, such people can get precious-life term insurance. The policy stands out as people with existing health problems can get cover with it. Precious-life term insurance is a plan that covers the policyholders with existing medical problems.

The financial security of the family is what a person wants but an unforeseen situation can destroy that. However, term insurance plans offer the death benefit to the family of the policyholder. The sum assured can help the family get back on their feet. However, it’s not that easy for people with health conditions. Such a person can protect their family with precious-life term insurance.

Precious-life Term Insurance

Precious-life term insurance offers cover to people who couldn’t get term plans as they had existing health conditions. People who have diabetes, cholesterol, etc. can get cover with such a policy. There are many difficulties in buying a term plan when a person has existing medical conditions. It can have a bad impact on their families. If such a person meets with an untimely demise, then their family will not have financial protection. However, they can get security with precious-life term insurance.

When people purchase precious-life term insurance, they will get cover even if they have an existing medical problem. They can also get accidental death benefit with the plan. Policyholders can also get tax deductions on the premium.

Benefits of Precious-life Term Insurance

  • People with existing health problems such as diabetes, high BP, cholesterol can get cover. Also, a person who has recovered from cancer or other surgeries can purchase the policy.
  • A policyholder can also get the accidental death benefit.
  • The policyholder’s family can get the sum assured as a lump sum or monthly income.
  • The premium can be paid in one time or during the policy term.
  • The policyholder can file for tax benefits as per the Section 80C and the Section 10(10D).

While the policy offers many advantages, the tax benefits are an important factor as well. The premium can be claimed for deductions as per the Section 80C. The sum assured is tax-free as per the Section 10(10D). However, cess and GST will be charged.

Many insurers offer term plans to people who live a healthy lifestyle. However, people who have a medical problem can be left out from the benefits of term insurance policies. They want to know if there is a plan that can give them relief. Precious-life term plan does exactly that. Now people with existing health conditions can also secure their family if they meet with an unforeseen situation. Precious-life term insurance factors in the health problems to protect the family of the policyholder.

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