6 Reasons Why Insurance Companies Might Reject Your Claim
When you buy an insurance policy, you expect that in your difficult times the insurance company will help us financially. But what if the claim gets rejected at the time of loss?? When a loss occurs, you need to send an intimation to the insurance company with the policy form and the necessary documents. Subsequently, the insurance company will investigate such a claim and thereafter, decide whether to approve the claim or deny it. If your claim gets approved, the company will pay the amount to the insured or the beneficiary. However, if your claim is rejected, then the company will send you a claim rejection notice wherein they will mention the reason for the insurance claim rejection . Reasons for Insurance Claim Rejection 1. Concealment of Facts : If you have not disclosed your correct information, which might affect the level of risk involved in insuring such risk, then the insurance company can reject the claim. 2. Suicide : Claim is...