Posted by admin on December 25th, 2010

Nowadays, the need for life insurance is known to many people. The life insurance policy gives a long-term as well as short -term protection coverage. This kind of policy is not only offered to people but also given for the families. The policy time period can be quoted six months onwards and if the policy holder wish to extend the period he can do it up to his life time. It is low-cost protection coverage when life insurance 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 insurance policy wont include common diagnosis, regular check-ups and accidental injuries casued due to job. It also excludes maternity expenses but in some cases it provides the expenses that are caused in pregnancy due to complications.
How Do Short-Term Life Insurance Policy Works
The coverage of short-term policy is same as the common life insurance, but some extra coverage can be added. Usually this policy offers eighty percent as the medical compensation, but in the critical life insurance conditions hundred percent compensation is paid. Normally, the bearer can choose the deductible amount by them in this policy. Some life insurance companies offer the money back scheme when the particular insured person is not satisfied with this policy in a period of 30 days they will be given 100 percentages of the premium.
Drawbacks in the 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 turns renewable when that person had made any claim under the previous policy. 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 some eligiblity requirements for the individuals to hold this insurance policy.Individuals should be under 65 years of age and should not have history of any refusal of the health or life insurance. Person should be fit and their height and weight should be acceptable under the compay’s life insurance guidelines. These are the eligibility for getting the short-term policy.
Premium amount of the short-term life insurance is payable at once or half yearly according to the insurance companies requirement. Price of the this policy may alter corresponding to the coverage, so make sure all the details are made perfect before signing the documents.