• Webpages
  • Documents
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment
  • HDFC Life ClassicAssure PlusInvestment

For NRI Customers

(To Buy a Policy)

(If you're our existing customer)

For Online Policy Purchase

(New and Ongoing Applications)

Branch Locator

For Existing Customers

(Issued Policy)

Fund Performance Check

Term Insurance for Heart Patients

Many of us, as Indians, have a tendency to downplay the significance of buying health insurance as well as term insurance, right? Especially when it comes to term insurance, it becomes even more important for someone who has a serious illness, like a heart patient, to have term insurance for his or her dependents. ...Read More

To delay is to regret

You may not always be around to take care of your family. And that’s when a term plan ensures your family is well protected.

Life Cover of 1 Crore @ 21/day***

Term Insurance

GET A FREE QUOTE

We respect our customers' privacy and do not spam them.

I authorize HDFC Life and its representatives to contact me through Call, Email, SMS or WhatsApp. This consent overrides my registration under DNC / NDNC (this would mean we would contact you even if you are registered on any Do Not Disturb list).

Term Insurance

Term plan for Heart Patients: Importance and Steps to avail

Term Insurance for Heart Patients
April 16, 2024

 

Why Is Term Insurance Important For Heart Patients?

Heart problems have been more common in India recently, particularly in young people in their 20s or 30s, as a result of changing lifestyles and the world's growing competitiveness in employment. The fact that heart problems are affecting people in their 20s and 30s as well as those in their 50s, 60s, and 70s raises alarms. These alarms need to compel people to prioritise not only their own health but also the financial future of their families by purchasing term insurance for parents.

Heart patients need term insurance, especially in a nation like India, where a large proportion of the population is young for the benefits of term insurance. When someone is diagnosed with heart disease, the last thing they should have to stress about is worrying about how they're going to pay for their treatment or how they're going to support their family financially. Term insurance is therefore required here as a solution.

How to Secure Term Insurance for Heart Patients?

A simple and unique kind of life insurance is term life insurance. Why? This is due to the fact that term insurance coverage has a set duration, i.e., the term/tenure of the policy for which it offers the promised benefits. The policyholder's beneficiaries and dependents would receive the payout in the event of the policyholder's death during the covered term. Basis the features there are various types of term insurance that you can which to avail as per your needs.

The procedures to get a term plan for heart patients are as follows:

  • Telling your chosen insurer about any cardiac conditions you may have is crucial. Providing your entire medical history, including your medical records, is crucial. In order to obtain a term insurance plan for heart patients, the insurer may also require the patient to undergo a medical test.
  • You might have to wait for a while after submitting your application in person or online, depending on what your insurer requests.
  • After the waiting period has passed, you can buy your policy and pay your premiums.

Factors to Consider Before Purchasing Term Insurance for Heart Patients

While buying life insurance policy of any kind, it is imperative to consider particular factors before signing up:

  • Read the Policy Clauses and Conditions

    It is advised that you read the clauses of your term life insurance for heart patients thoroughly. For example, there may be a clause suggesting that all maturation benefits be withheld in case the policyholder has failed to disclose relevant information while buying the policy.
  • Full Disclosure

    Any term life insurance policy mandates that you completely disclose any information pertaining to your illness - like the initial diagnosis date, the condition’s severity, the treatment, habits like alcohol and tobacco use, conditions like hypertension, etc.
  • Factor In the Waiting Period

  • All Documents Relating to the Heart Condition must Be available 

  • Consider the Amount of the Premium

    This may depend on the severity of your heart condition. If you were healthy before the initial diagnosis, you might be eligible for a lowered premium.
  • Consider a Rider for Critical Illness Cover in term life insurance for heart patients

Choosing the Right Term Insurance for Heart Patients: Steps to Follow

By taking into account your personal responsibilities and the financial obligations of your family, you can easily determine the appropriate sum assured for the term insurance. These are some actions that may prove beneficial.

Additionally, determine the amount guaranteed by factoring in your child's education, loans, liabilities, and your family's regular grocery needs.

To calculate the amount assured, you may also, as a general rule of thumb, think about multiplying your current yearly income by 10 or 15. Compute how long the policy will last. The best term plan tenure will depend on your health, your obligations, and the needs of your dependent family in terms of money.

  • Learn about the various term plans available in India for cardiac patients. Examine the various term insurance plans available to fulfil your unique budgetary needs.
  • Acquire a thorough understanding of what is and is not covered by an insurance policy. Learn about the features of term insurance policy that , according to the terms and conditions of the policy, specifically addresses the needs of people with heart conditions.
  • Compare term insurance policies: Assess term insurance policies for individuals with heart conditions according to their special features and advantages to find the best deal for your budget.
  • Customise the heart patient's term insurance. Customise the chosen term insurance policy by picking a practical way to pay premiums, a payout option, riders, etc., to help the term insurance investment fit your family's needs and your financial situation.
  • Compute the term insurance premium: After you've chosen a plan that meets your needs and customised it, you need to find the associated premium. To determine the term insurance premium based on the sum assured & specific features like policy tenure and premium payment term, use online term insurance calculator. You'll be better equipped to take wise financial decisions as a result of this.
  • You can choose to make changes if you're not happy. You can alter the features and term plan to better fit your budget if you find that the premium is too expensive 

Advice on Getting Term Insurance for Heart Patients

1. Take your medication as prescribed by your physician.

2. Get regular check-ups for your heart health.

3. Control your weight with a nutritious diet.

4. Avoid behaviours that can affect your heart health, such as drinking alcohol and smoking.

5. Exercise well & eat a balanced diet as part of a healthy regimen.

6. Obtain extensive long-term term insurance coverage.

Additional Security with Critical Illness Coverage

Cancer, heart attack, cardiac arrest, stroke, renal failure, and a host of other serious illnesses and conditions related to not-so-healthy lifestyle choices are all covered financially by critical illness insurance. Critical illnesses may have an impact on your finances since they necessitate intensive care. With term insurance plans, critical illness coverage is offered as an add-on rider.

Conclusion

Purchasing term insurance for heart patients can offer their families a safety net in case of their untimely death. Therefore, carefully consider the waiting periods, policy conditions, premium factors, and transparency in health conditions if you wish to purchase term life insurance plan.

FAQs on term insurance for heart patients

Q. Which policy is best for heart patients?

Term insurance can be considered among the best policies for heart patients in India, as it offers high coverage at low premiums.

Q. Can I get term insurance after heart surgery?

If you have suffered from a heart attack and have gone through heart surgery, getting term life insurance will be tougher but not impossible. Heart patients in India can still get term insurance after keeping multiple factors and steps in mind, as discussed above.

Q. Is death due to a heart attack covered in a term insurance plan?

Term insurance policies usually do provide coverage for deaths due to natural illnesses that cause an insured person to pass away too soon. This covers heart attacks, strokes, specific kinds and phases of cancer, and so forth.

Q. How does a heart attack's severity affect term insurance?

When purchasing life insurance, the severity of your heart condition and its effects on your health will be crucial factors to consider. If the illness had any major, long-lasting effects on your health, getting a life insurance policy might be difficult for you.

Q. Does age affect the chances of heart patients getting term insurance?

Yes. If you were diagnosed with a heart ailment in your 20s or 30s, you would have a much harder time obtaining term insurance than if you suffer it later in life, such as 50s.

Related Articles

Talk to an Advisor right away

Not sure which insurance to buy?

Talk to an
Advisor right away

Talk to an Advisor right away

We help you to choose best insurance plan based on your needs

Francis Rodrigues Francis Rodrigues

Francis Rodrigues has a decade long experience in the insurance sector, and as SVP, E-Commerce and Digital Marketing, HDFC Life, manages the online sales channel, as well as digital and performance marketing. He has had hands-on experience in setting up sales channels and functional teams from scratch over a career spanning 2 decades.

LinkedIn profile

Author Profile Written By:
Vishal Subharwal Vishal Subharwal

Vishal Subharwal heads the Strategy, Marketing, E-Commerce, Digital Business & Sustainability initiatives at HDFC Life. He is responsible for crafting and ensuring successful implementation of the overall organisation strategy.

LinkedIn profile

Reviewed By Reviewed By:
HDFC life
HDFC life

HDFC Life

Reviewed by Life Insurance Experts

HDFC LIFE IS A TRUSTED LIFE INSURANCE PARTNER

We at HDFC Life are committed to offer innovative products and services that enable individuals live a ‘Life of Pride’. For over two decades we have been providing life insurance plans - protection, pension, savings, investment, annuity and health.

##Individual death claim settlement ratio by number of policies as per audited annual statistics for FY 2023-24.

#Provided we have received all the relevant and required documents and no further investigation is required. Claim settlement process would be completed within stipulated timelines once the claim request is approved

^ Available under Life & Life Plus plan options

***Online Premium for Life Option, Male Life Assured, Non-Smoker, 20 years of age, Policy term of 25 years, Regular pay, Annual frequency, exclusive of taxes and levies as applicable. (Annualized Premium of 622/30=20.7).

 

ARN - ED/04/24/10781