Will the insurance money not be drowned? Learn the mistakes that reject claim

We all buy insurance policy to protect ourselves and our family. For years, he also fills his installment (premium), in the hope that if any difficulty comes, this policy will be useful for us. But think, how will the insurance company feel if the insurance company rejects your claim?

This fear occurs in the mind of almost every policy. Many times this also happens, but often the company is not cunning, but we have some small mistakes while buying the policy.

Then the question is, what precautions should be taken that our claim is never rejected in future? Let’s know those most important things.

1. Never hide any information (The Golden Rule)

This claim is the biggest and most common cause of rejecting. Consider it like hiding the disease from a doctor. While filling the policy form, tell the truth about your health, habits and chronic diseases.

• Do you smoke or consume alcohol? Tell the truth
• Do you already have any disease? (Such as diabetes, BP). Do not hide at all.
• Is there any risk in your job? Give correct information.

The company may take a little more premium from you, but at least it will be a guarantee that your claim will not be rejected if needed.

2. Read the policy of the policy carefully (which we never do)

The agent often says, “Sir, sign here.” And we sign the document without reading it. This is the biggest mistake. Do not read the full document, but at least look at these things:

• What is not cover (Exclusions): Every policy has some conditions under which the company does not pay money. Must read them.
• Waiting Period: Some diseases in health insurance are covered only after 2 to 4 years. It is very important to know this.

3. Don’t forget to fill the premium time

If you do not fill the premium on time, then your policy can be closed. No company claims a closed policy. Always remember your payment date or choose an auto-debit option.

4. Fill the information of the nominee correctly

The nominee is a person who gets the policy money if you do not live. Always make sure that the name, age and relationship of the nominee are filled in the form right in the form. If you have to make any changes in the nominee later, then get it updated in the company.

In short,

It is very important to buy insurance, but it is more important to buy it properly. A little caution can protect you and your family from the big future troubles. Next time you buy a policy, remember these things.