After the Corona epidemic, awareness about insurance has increased among the 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 give claims. There are some cases in which the company rejects the claim completely. 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 house and he dies, then the amount received from life insurance helps a lot in the subsistence 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 get correct and complete information before taking a life insurance policy. This also applies while taking a health insurance policy.
Why insurance claim gets rejected
Giving wrong information: If any wrong information is given while filling out the insurance policy, the claim may get rejected. Such as giving wrong information about age, health-related information, or income.
Not paying premium: The insurance policy remains effective 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. During this period, if the policyholder dies, the insurance company checks the information given by the policyholder. If any wrong information is found, the claim may be rejected.
No 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 a problem in making a claim.
How to avoid claim rejection
Give correct information: While filling out the insurance policy, give all the information correct and complete.
Pay premiums on time: Always pay premiums on time.
Read policy terms carefully: Read and understand all the policy terms carefully.
Keep nominee updated: Always keep nominee details updated.
Contact insurance agent: Contact the insurance agent for any kind of problem.
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