Know the Causes of Denied Insurance Claims

Know the Causes of Denied Insurance Claims

Life Insurance Claim Denied By Insurance Companies. Often we hear about it, so that not a few people who are antipathetic to the insurance company, because they do not want the event vicariously. Know the Causes of Denied Insurance Claims

Hope someone buys an insurance policy is in order to receive benefits from the insurance products that are purchased when needed, thus avoiding his or her family from economic hardship. But not infrequently life insurance companies will refuse to pay insurance claims are filed.

Know the Causes of Denied Insurance ClaimsKnow the Causes of Denied Insurance Claims

The following are the three most common excuses used to deny insurance claims life insurance types:

1. Suicide, When the insured dies from suicide, but still within the questionable (one or two years since the policy was published), then the insurance company reserves the right to refuse to pay the sum assured. Know the Causes of Denied Insurance Claims

2. Injuring Yourself, The accidental death insurance (accidental death), there is usually a clause that excludes injury caused by the act of “self-mutilation”. Insurance companies can reject claims of deaths due to accidents caused by speeding on the highway on the grounds that racing is an act of “self-mutilation”.

3. Material misrepresentation, is an honest statement delivered at the time of filing of the application process (underwriting), which causes the insurance company rejected the insured and not the policy issue. Misrepresentation may be a false statement regarding his health history, age, occupation, hobbies of the prospective insured. As with suicide, misrepresentation can only be used as a reason for rejecting the claim when it occurs during questionable and only in relation to the death. For example, if the insured does not claim to have a dangerous hobby at the time of application but it later died while doing a hobby that’s associated with dangerous hobby.

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Know the Causes of Denied Insurance Claims

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