Life Insurance: Be Careful! Because of these 6 major reasons, life insurance claim gets rejected, not even a penny is received

Life Insurance: Life insurance has become very important in today's times. After the corona pandemic, people have understood its importance even better. When people take health insurance for treatment of diseases, they opt for life insurance or term health insurance plan to ensure financial security of their family. However, there are some special things to keep in mind while choosing a term plan. Today we are not going to talk about its benefits, rather we will discuss the reasons why it might be difficult to get claims for life insurance or health insurance. Hence, it is important to understand that term insurance is not suitable for all types of death. Also Read: Bizarre News: This Man Gets Married For Just €500, Bookings Full Until December In fact, term insurance is a true life insurance policy that helps protect the policyholder's family from financial problems in the event of his death. If the policyholder dies during the policy term, the nominee gets the entire death cover. Experts also recommend taking a term plan with adequate coverage to ensure financial security of the family. Also Read: Railways will run many special festival trains on these routes If you are thinking of taking a term life insurance plan, before taking it, it is important to understand each and every condition related to the policy. As mentioned earlier, term plans do not cover all types of death. On the death of the policyholder, his family receives the claim amount only if the death is due to the reasons specified in the policy. In case of death due to a cause not covered by the policy, the insurance company may refuse to pay the claim. Under term insurance, the insurance company only claims for natural death due to health problems or accidents. Let us know the top 6 reasons why insurance is not provided. First Reason for Life Insurance Rejection: If the policyholder gets accidental death cover, but the policyholder dies while driving under the influence of alcohol (then this cover is not valid in this situation. Life Insurance: Be Careful! These 6 Big Reasons Life Insurance Claim Gets Rejected, 4 Second Reason for Life Insurance Rejection : The insurance company can refuse to pay the claim amount of the term plan if the policyholder is addicted to drugs or due to this reason. If the person died due to drug or alcohol consumption, the claim is not available in these situations. Also read: Men marry twice: Every man has two wives India's unique village Know why people have two marriages Third reason for life insurance rejection: If the person taking the term plan dies, has an accident due to some dangerous sport or. Stunt, the insurance company may refuse to pay the claim amount. These include extreme sports like car or bike racing, skydiving, scuba diving, paragliding and bungee jumping. That is, if the policyholder is fond of adventure sports and dies during any risky activity, the term plan claim will be rejected. Life Insurance: Be Careful! Due to these 6 major reasons, life insurance claim is rejected, not even a penny is received 5 Fourth reason for life insurance rejection: While buying a term plan, the policyholder needs to nominate a nominee, after his death. Full coverage is available. If the policyholder is murdered during the policy period and the nominee's involvement is proved in the police investigation or the nominee is accused of murder, the insurance company stops the claim process until the nominee is declared innocent. Also Read: Video Viral: Student Proposes To Teacher In Online Class, Says- Ma'am, I Love You, Will You Marry Me? Fifth Reason for Life Insurance Rejection: If you are taking a term policy, you must tell the insurance company all your details correctly and do not cover any serious illness. Generally, people are reluctant to share information about any ailment because they fear that it will increase their premium or make it difficult to get a policy. But this mistake can be costly. If the policyholder has a serious illness before taking the policy and does not inform the insurance company about it, the insurance company can reject the claim in case of death due to that disease. Apart from this, there is no provision in the term plan to provide cover in case of death due to HIV/AIDS. Life Insurance: Be Careful! Due to these 6 major reasons, life insurance claim is rejected 6th reason for rejection of life insurance: Under term plan, if the policyholder dies due to any natural calamity, the insurance companies do not pay the claim. Amount per nominee. These natural disasters include earthquakes, storms, landslides and other similar events. Insurance companies, while issuing the policy, clearly state that damage caused by movement of the earth (such as an earthquake) is not covered under the policy. Also Read: After Ladli Behna Yojana, Another Central Govt Gift, This Scheme Will Make You Rich The post Life Insurance: Be Careful! These 6 Big Reasons Life Insurance Claims Get Rejected, Not Even A Penny Received appeared first on Prabhat Khabar.