Insurance
Protection first: reading a term and health policy
Sum assured, waiting periods, exclusions and disclosure obligations in plain language.
Term insurance pays a sum assured to nominees if the life assured dies during the policy term. It is a protection contract, not an investment.
Health policies vary in room-rent limits, waiting periods for pre-existing conditions, sub-limits, co-payment and network hospitals. Read these clauses before purchase.
Complete and accurate disclosure at proposal stage is essential. Claims are subject to policy terms, conditions and exclusions of the insurer.
This article is general educational information and not personalised investment, tax or legal advice. Eligibility, risks and product terms apply. Product suitability depends on individual circumstances.