The only objective to buy a life insurance policy is economic security. For this, the policyholder pays the premium. He hopes that in the event of an untoward, the life insurance company will give insurance money to Nominee, so that his wife and children will not have to face financial problems. Many people take a policy with crores of rupees covered. However, in the event of an untoward incident, the family troubles increase when the insurance company rejects the claim.
Experts say that insurance companies do not show the interest of the customer in selling the policy in the approval of the claim. Many times the claim is unnecessarily late. Many times insurance companies reject claims. Mostly she gives reasons like hiding the facts for this. They say that the policyholder did not tell the insurance company about the facts while purchasing the policy. It is difficult for family members to respond to this charge if the policyholder is not there.
Companies reject the most claims because the policyholder did not tell the company about the already underwent disease. He did not say anything about this in the proposal form. Some companies argue that the policyholder used to smoke cigarettes, take alcohol. But he did not inform the company about this while purchasing the policy. Premiums increase for any kind of disease or a cigarette or alcohol -smoking policyholder.
Experts say that if you are buying a life insurance policy, then you should tell the company your entire medical history. If there is a disease or a policyholder smokes a cigarette or alcohol, then the premium can increase slightly by informing the insurance company. However, then she will not be able to reject the claim. Many people do not take the process of purchasing policy seriously. The reason for this is hurry to sell the policy of insurance companies. However, this haste does not cause the company but the policyholder suffer losses.