Life Insurance
Importance of life insurance is well known to all people presently. The life insurance policy gives a long-term as well as short -term protection coverage. The life insurance policy covers both individual and family. It is applicable to one to six months calculating upon the insured person need, they can extend life insurance the policy. It is low-cost protection coverage when compared to the long term policy. Policy holder of short-term policy won’thave more benefits compared to the long-term policy
Short-Term Policy Coverage Details
The treatments such as intensive care unit treatment, medicines cost, x-rays and scan cost are included in the short-term life insurance policy. The policy holder can have any treament as listed, and get 100% payment for the emergency treatment. Using this policy people can get 50% payment for dental surgeries and optic operations.
This policy excludes treatment such as diagnosis, regular checkups and injuries that are caused from the job. It also excludes maternity expenses but in some cases it provides the expenses that are caused in life insurance pregnancy due to complications.
How Do Short-Term Life Insurance Policy Works
The working of this policy is same as that of the normal life insurance policy. It offers 80 percent of the medical expense to the person, and sometimes it gives 100 percent amount as the compensation. Decuctible amount can be preferred by the policy holders in this policy. Leading life insurance companies offer the 100% money back guarantee, if policy holders not satisfied in the period of one to 2 two months.
Disadvantages of Short-Term Policy
If the insured individual already had major health problems, before taking this policy that does not cover in this kind of policy.This policy is not renewable after the policy period and can be done only after the life insurancespecific period It covers only for the certain period of time and can’t make any claim after the policy period if you fall ill.
Eligibility for this Policy
There are many eligiblity demands for the individuals to hold this insurance policy.People should be under 65 years of age and should not have history of any rejection of the health or life insurance. Person should be healthy and their height and weight should be acceptable under the compay’s guidelines. These are the eligibility for getting the short-term policy.
Short-term insurance is to get help in these times of uncertainty, without risking a period without coverage. Cost of the this policy may vary according to the coverage, so make sure all the details are made clear before signing the documents.
December 27 2010 07:38 am | Uncategorized
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