Can LIC reject the term plan proposal after the medical test also
Yes, not only LIC of India, any Life Insurance company can reject the proposal after going through the medical test reports. No Insurance company is interested to insure an unfit person.
People with the disease. Illness or disability can try for a Term plan. After the required medical tests, the reports would go to the panel of Doctors in the Life Insurance company. It is for them to decide the Term cover to be given or not.
My own Life Insurance cover from LIC of India had been postponed due to diabetes and hypertension. The Insurance company is not a charitable trust. Many people say I am fine and don’t need insurance.
But one should buy Insurance when he is having good health.
Most Life Insurance companies never take risks in giving life Insurance. In some cases, LIC of India agrees to give cover on the basis of an extra premium. There are cases in which LIC of India has given Insurance to extremely disabled people, but with a clause.
Life Insurance can be given to handicapped and disabled persons can also be given The Term plan after completing a medical checkup. The LIC Doctors panel would decide on the basis of medical reports and current conditions.