Is coma covered in term insurance

A term insurance plan is one of the most important insurance products that provide financial protection in case of the unfortunate demise of the policyholder. Based on the sum assured, a financial benefit is given to the nominee of the policyholder if the latter dies during the policy tenure. Unlike life insurance plans, there are no maturity benefits that are paid out with term insurance plans. The best part about most term insurance plans is that they provide higher life protection cover that too at an affordable premium. Now, it is also important to understand that term insurance plans provide coverage for critical illnesses like a coma. Let us explore the same in the section below.

What is Coma?

Coma refers to the state where an individual fails or stands incapable of responding to any external stimuli. When an individual is diagnosed with a coma, their brain fails to function properly which results in an unconscious state. The typical cause of coma includes head injury, traumatic shock, increase in blood sugar levels, drowning, deprivation of oxygen, and others. All of these result in a phase where the individual diagnosed with coma fails and becomes unresponsive. It is important to note that a coma is a type of critical illness as this is life-threatening. 

Is Coma Covered in Term Insurance?

A term insurance plan basically provides financial protection when the policyholder passes away. But, what happens if the policyholder is diagnosed with a critical illness like a coma? Will the coverage benefits still be the same? If an individual is diagnosed with coma and has an active term insurance plan, then the coverage offered under the term insurance plan will remain active, provided the premiums are paid on time. However, it is advisable to add critical illness riders to your term insurance plans, if you are diagnosed with coma. 

A term insurance plan with a critical illness rider will cover the hefty medical expenses that are spent for the treatment of coma. Thus, providing financial assistance, and a term insurance plan with critical illness riders can be of extreme help by reducing the financial burden and in turn, focusing on getting quality treatment. As the list of diseases in the critical illness category varies from insurer to insurer, it is best to speak to your insurer about the same before buying any term insurance plan. 

Benefits of Buying Term Insurance Plans with Critical Illness Rider

With a term insurance plan that covers critical illness like coma, you can get the following benefits:

• A lump-sum amount is paid as life cover
• The premium amount does not increase if the policyholder is diagnosed with coma
• With term insurance plans that provide coverage for critical illnesses like coma, policyholders can get tax benefits as specified under Section 80D of the Income Tax Act, 1961
• Most insurance companies like MAX Life Insurance, Kotak Life Insurance, TATA AIA Life Insurance, and many others provide coverage for critical illness like coma in their term insurance plans. This means that you can easily pick an insurer that meets your budget and requirement in the best possible way
• Policyholders can receive the critical illness benefit available in their term insurance plan, either through a single-time payment or as a regular payment

Take Away

Thus, to protect your family if you are diagnosed with coma, it is best to buy term insurance plans with critical illness riders. 

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