After the Corona epidemic, awareness about insurance has increased among people. Now more and more people are taking life insurance and health insurance policies.
A common complaint of people is that insurance companies are very reluctant to pay claims.
There are some cases in which the company completely rejects the claim. There can be many reasons for insurance claim rejection.
Every policyholder should be aware of these. But, while taking the policy, usually no effort is made to get information about these reasons.
If the person taking life insurance is the only earning person in the family and he dies, then the amount received from life insurance helps a lot in the survival of the family. At the same time, if the claim money is not received then a big problem arises in front of the family. Therefore, one should always obtain correct and complete information before taking a life insurance policy. This also applies while taking a health insurance policy.
Why is the insurance claim rejected?
Giving wrong information: If any wrong information is given while filling the insurance policy then the claim may be rejected. Such as giving false information about age, health information, or income.
Non-payment of premium:
The insurance policy remains in effect only when the premium is paid on time. If the premium is not paid, the policy lapses and the right to claim is lost.
Contest Period:
There is a contest period of two years after taking the insurance policy. If the insured dies during this period, the insurance company checks the information given by the insured. If any incorrect information is found then the claim may be rejected.
Absence of a nominee:
It is necessary to have a nominee in the insurance policy. If there is no nominee or the nominee has died, there may be difficulty in making the claim.
