Transcription of the above video :
Hi, Shailesh once again from InsuranceSamadhan to give you information related to Insurance.
You all must be knowing, InsuranceSamadhan is a techno-legal platform. You can visit our website and register your life and general Insurance-related grievance there and we would be more than pleased to help you out!
We are a group of Insurance professionals who wants to make you believe in Insurance and do not want you to get trapped in the case of mis-selling, fraud calls, and claim rejection.
For the past two weeks, I was covering Term Insurance and Life Insurance to gain clarity through various Youtube channels and other pages.
I got to read that if you’re into drinking and smoking, then your claim can get rejected. So, thought of clarifying this to you.
Drinking and Smoking are habits and you should mention this information in your policy form while taking up the policy because the company will under wright the risk in accordance and ask for an extra premium and your Term Insurance will lead that way.
However, If you have not drunk or lit a cigarette till the day of Insuring policy but later you adopt the habit of drinking and smoking, in that case, you will be getting your claim. And secondly, all these factors are applied for 3 years. After 3 years, your claim of any type, either of drinking or smoking cannot be rejected and stopped. All these precautions are important for until 3 years. Since all insurance is done on the basis of utmost good faith, it is very important for you to give all the useful information about yourself to the Insurance Company.
And, about the claim rejection, the claim cannot be rejected until you have not hidden any factor about yourself in the first three years of the policy. After three years, the claim is payable.
It is to be noted that if your claim is related to Health policy and your health has been affected due to drinking, in such a case, your claim can be rejected.
Thank you so much.