Life Insurance And General Insurance – You Have Told The Truth While Taking An Insurance Policy, These 4 Things? Big Loss For Lying! – If you’re thinking of getting an policy , then keep some things in mind. Insurance companies invite tons of data while taking a policy. On the idea of which the premium amount is set . While taking any sort of policy , there are some things which shouldn’t be hidden in the least .
Life Insurance And General Insurance – You Have Told The Truth While Taking An Insurance Policy, These 4 Things? Big Loss For Lying!
Actually, if you hid some important things while taking insurance then when the insurance firm involves realize those things during the claim, then you’ll also reject the claim on the idea of that. Especially if the right information of medical record isn’t provided, the claim are often rejected. So by giving wrong answer you’ll need to regret later.
1. Smoking or No-Smoking: If you smoke cigarettes, then the insurance firm fixes a separate premium for that. Smokers need to pay a better premium than non-smokers. Every insurance firm asks policy holders about this while taking the policy.
Not only this, if the insured starts smoking cigarettes even after taking the policy, then it’s also necessary to offer this information to the insurance firm . once you tell the corporate about smoking, your premium may increase. But if we hide this stuff , then there could also be trouble at the time of claim, claim can also be rejected.
2. About Critical Illness: If the insured had any serious illness before, then while taking insurance, definitely inform the insurance firm about it. With this, the insurance firm decides along side the upper premium, whether the insurance should be approved or not.
At the time of creating a claim for concealment of disease related information, the corporate scrutinizes each and each medical record , if the falsehood is detected at that point , the claim request are often rejected. Then you’ll don’t have anything left but to repent. (Photo: File)
3. Addiction to alcohol or drugs: After the claim, especially within the case of a road accident, the insurance companies start investigating whether the insured was intoxicated at the time of the accident. If intoxication is confirmed within the report , then the corporate prepares further reports on the idea of the knowledge given earlier, if the insured hides the matter of drinking alcohol while taking the policy, then the corporate also can reject the claim.
4. Criminal Record: If the policyholder has any record , then it shouldn’t be hidden while taking insurance. Because if the corporate gets information about the crime within the beginning, then it’s decided whether the insurance of such people should be approved or not. In such a situation, the insurance firm also can reject the claim for hiding this information.