A small mistake from your side and your insurance claim can get rejected. So Always avoid those mistakes which can lead to rejection of claims in to nominee account.
There are specific clauses conditions and exceptions in insurance policies today which ensure that people are expected to fall ill by contacting a specific disease or specific conditions or specific time if you have chosen a specific insurance Plan. So if you don’t meet those conditions your claim would not be passed by the insurance company. So you have to ensure that you always get paid whats due to you by your life insurance provider.
Read More : Beware from Online Payment frauds while doing Digital Transactions
1. Incorrect information in Application
If you have filled wrong data in your insurance form or misrepresentation of data can lead to rejection of life insurance claims. You have to fill the full detail like age, income occupation lifestyle (smoking) and information of previous policies and claims if any . if you will fill incorrect or incomplete data regarding this application form can also constitute to fraud and suspension of policy benefits.
2. Hiding Your Medical History
You have to disclose the Previous and existing medical conditions, operations or surgeries. it is all mandatory to do that as it influences the policy premium if you want that there will be no rejection in claims in future you have to update the exact health details like major health conditions like cancer, blood pressure or any hereditary conditions must be shared with the insurance company.
3. Pay premiums on Time
Insurers will only settle claims on active insurance policies. If you will delay the premium your policy will be lapsed . once the policy lapses you are no longer covered and all your premiums paid for that earlier will be rendered useless. Those premiums will never return to you and there is no guarantee that your dependents will get the sum assured or death benefit from the company. in some cases delayed payments could also lead to penalty and reinstatement charges. So if you want that you will get the claims smoothly you have a clean track record of paying premiums of the insurance policy.
Read More : Party with your friends anywhere with Best Portable Bluetooth Speakers in India
4. Update Nominee information
Nominee is the person who will receive any or all benefits that come out of the insurance policy when the time comes. If you are single your parents will be the nominee and if you are married your spouse or children will be the nominee. You have to update the nominee status in the policy for the smooth acceptance of the policy.
5. Fill your insurance form yourself
Don’t give the authority to fill your insurance form to the insurance agent. no one knows you better than yourself . Agents fill the forms to meet up the sales targets and could not care what becomes of you in future. If you will fill your form yourself it will help you to understand the life insurance policy better and choose the best features which will suit your family needs.