Does your Indian life insurance policy cover you if stuck in war abroad?

Does your Indian life insurance policy cover you if stuck in war abroad?

• Category: Life Insurance
• Date: 04-03-2022

Hundreds of civilian casualties, including the lives of two Indians, have already been reported in the Ukraine-Russia war. One question which many people having life insurance policy from an Indian insurance company would want to know is whether their policies will work if an insured person dies in such a situation.
 
 "Life insurance policies cover deaths irrespective of the location. Hence, deaths caused due to Ukraine like crisis or any other situations are covered under life insurance,”
 
The only exclusion, which a term plan typically has, is in the case of suicide by the policyholder, that too in the first year of the policy. For instance the Tech Term Plan by LIC states "This policy shall be void if the Life Assured (whether sane or insane) commits suicide at any time within 12 months from the date of commencement of risk, provided the policy is inforce or within 12 months from the date of revival, the Corporation will not entertain any claim except for 80% of the premiums paid (excluding any extra amount if charged under the policy due to underwriting decisions and rider premiums, if any) till the date of death."

So that means that there are no other major exclusions which can prevent the beneficiaries from getting the life insurance cover benefit in case of death of their loved one in a Ukraine-like crisis. However, that does not mean that cover will work in all situations.

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