Insurance Policy Cover Against Terror Attacks: Right now everyone is talking about Pahalgam terror attack on tourists. About 28 people have died in the attack. Earlier, about 166 innocent people were killed in the 26/11 Mumbai terrorist attack. Even after that, terrorist attacks took place at different places in the country in which innocent people were killed. For the families who have lost their loved ones in the recent attacks, this is a lifelong shock. The anger among the people regarding this attack will gradually subside, but the families who are crying and sobbing in the memory of their loved ones will be left behind.
In Pahalgam, many families have lost their sole breadwinners. A government compensation of just a few lakhs will not be of much use to them. In such a situation, it is important to know what are the rules and regulations of life insurance for the people who have become victims of terrorist attacks in the country. Actually, there have been major changes in insurance rules during the last few years. After which, now most of the life insurance policies cover the loss caused by terrorism, that is, insurance claim is available. But there are some conditions for this.
According to the insurance regulatory body Insurance Regulatory and Development Authority (IRDA), now companies also cover death due to terrorism in life insurance policies. That is, if a person dies due to a terrorist’s bullet, then it normally comes under the scope of insurance.
Before taking the policy, do mention that if a person dies due to terrorism, then he will not get the additional amount fixed for death due to accident. For example, if a person has taken an insurance of 50 lakhs and in case of accident, there is an additional insurance of 10 lakh rupees, then in such a situation, if that person dies in a terrorist attack, then the family will be paid only under the insurance of 50 lakh rupees. The separate provision of 10 lakh rupees for accident will not be available.
Not only this, if someone wants to get separate insurance for the loss caused by terrorism, then ‘New India Assurance’ has introduced a terrorism insurance policy in collaboration with many companies. Many insurance companies cover terrorism in normal life insurance policy as well and this is as an additional cover. In today’s era, people should pay attention to health insurance, insurance plans for house and property along with life insurance. Many times in a terrorist attack, the entire house gets destroyed, vehicles get blown to pieces. In such a situation, if you get insurance for house and car, then you will get the amount as soon as you make a claim.