Understand life insurance after heart attacks
08th April 2019
Insurance industry in India is growing by leaps and bounds and one of the core reasons for this is the increased focus on customer-oriented activities and commercial exercises. The increased public outreach is also one of the core reasons for this and this has had an overall beneficial impact on the growth pattern of the industry. This has also led to many changes being witnessed on the front of the customer-focus and the impact that the policies offered by the insurance providers have on the specific needs and requirements of the customers. Previously, the chances of a person suffering from a pre-existing health condition getting an insurance policy were quite bleak and in fact, in some cases were non-existent. This is because, generally it was and to a certain degree still is, that a person suffering from a pre-existing health condition like a heart-disease falls in the high-risk category of clientele and therefore, insurance providers were quite unwilling to offer coverage to such persons. However, with the change in business strategies and possibilities, there has been a corresponding change in the way business is conducted in the usual circles.
Today, insurance providers are willing to offer credible financial coverage to persons who suffer from heart disorders or have had a heart attack in the recent times. These days, owing to stressful life conditions and unhealthy lifestyle choices, even young persons have become the victims of heart attacks. Therefore, this malady has impacted insurance industry beyond segments and age-groups. However, this does not necessarily mean that if a person has had a heart attack, she/he will never be able to secure a life insurance plan. After undergoing a heart-attack, the health condition of a person becomes extremely vulnerable and has to be monitored from time to time. Regular health check-ups and doctor-visits become a reality of the day and the person has to take a lot of precautions to ensure that there is no relapse. This requires regular and periodic monitoring and this is what is taken into consideration by the insurance providers while offering the coverage of life insurance to such a person.
Generally, insurance providers follow the rule of a particular waiting period, which means that once a person undergoes a heart attack, she/he must keep in mind that there has to be a particular waiting period before buying a life insurance policy. Generally, this waiting period may vary from six months to three years. Thus, a person who has had a heart attack recently must wait for at least six months before deciding to purchase a life insurance plan. This allows the insurance provider to have a complete perspective on the current health status of the prospective policy-holder and therefore, have a better viewpoint over the risks involved. This ensures clarity of action on part of the insurance provider and also ensures transparency of decision-making on part of the probable customer.
HDFC Life offers HDFC Life Cardiac Care – a heart-specific plan that is directed at safeguarding your finances in the event of any heart-related contingency and protecting the financial interests of your loved ones during such an incidence. For details, click on the mentioned link: https://www.hdfclife.com/health-insurance-plans/cardiac-care.
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