A few years later, both of them got badly injured in an accident and would live only for a few days. The individual who hadn’t bought any insurance had no money to cover his expenses so he sold everything he possessed to pay hospital bills. But even the other friend paid the bills from his pocket, because his insurance claims got rejected. [Get Personalized Advice On Term Insurance Plan Visit or Give A Miss Call On 022-62116588]
His Insurance claim got denied because:-
1. Accident cover wasn’t available
2. He hadn’t submitted a satisfactory medical test certificate while buying the Insurance
Both the friends learnt lessons the hard way, but one of them learnt it the harder way as he had already paid his premiums but didn’t get insurance money so he had to pay from his own pocket again! He was at a double loss!
This should not discourage you from buying Insurance. It is imperative for you to buy Insurance as you can avoid situations like mentioned above if you take care of certain things. [Get Personalized Advice On Buying Insurance Visit or Give A Miss Call On 022-62116588]
1. Submit medical reports or better undergo a medical test with them
If you want your doctor to issue report, get your health checked by him/her. Submit the medical reports to the company. It would be even better if you get medical test with the insurance company’s doctor. Insurance Online Financial Planner Advisory. Getting a medical test and submitting it is important. A mere declaration of good health isn’t sufficient and can backfire against you. Instead, if you undergo medical tests, the company and the doctor are answerable, not you. Remember that no company can deny claims after three years of issuance.[Get Personalized Advice On Medical Insurance Visit or Give A Miss Call On 022-62116588]
2. Present proper details
Insurance contract is provided based on trust and if the insurance company discovers any untruth or false information provided by the policyholder, the claim becomes void. This means you cannot claim the insurance amount even if you have paid all premiums correctly. Never conceal anything. It could be medical history, lifestyle issues, etc. By revealing it, even if the premium becomes costlier, the insurance claim won’t get rejected in future. Don’t hide your bad habits and family medical history. [Get Personalized Advice From Best Latest Smart Interactive Financial Adviser Kuber Mindz Visit]
3. Rate should not decide your insurance plan
“I will not go for this because this is too costly rather I will go to that cheap one” This mentality is so wrong. Low premium should not dictate your preferences. It might not cover you or your family in times of need. Rather go for an insurance policy that suits you based on your health, lifestyle habits and family history. [Get Personalized Advice On Insurance Plan From Friendly and Interactive Financial Adviser Kuber Mindz]
4. Never let the policy lapse
Missing the renewal premium will result in the lapse of the policy. So don’t let that happen. Often, many people get lethargic and forget about it due to other causes. The policy gets lapsed and when the time of need arrives there will be no policy to cover anything.
For more information visit www.moneymindz.com or give a missed call to 022-62116588