This is an important aspect as it is very important for your insurance company to know your exact medical condition while providing you a term cover to avoid any chance
of claim rejection later.
Wrong information about health condition is done intentionally or by mistake, but it doesn't matter to the insurer as wrong information is strong
basis of claim rejection for any insurance company.
With the number
of claim rejections by insurance companies on the rise, a 360 degree view before purchasing a medical policy is always recommended.
With the
number of claim rejections by insurance companies on the rise, it is important to ensure beforehand that the policy being taken covers against a host of medical issues.
Most of the claim rejection is due to a missing document or because of inconsistency in the declarations mad e in the documents submitted.
Make sure you have shared all information like mobile number, address, nominee details, medical conditions, smoker or non-smoker etc so that your family can't face any kind
of claim rejection at the time of need.
However, more the exhaustive the list, higher is the chance
of claim rejection because everything is mentioned in minutest detail.
The reasoning behind this is, anytime is promoted by PSU's and we can have good trust on it, and in
case of claim rejection by another insurance company we can show that anytime has accepted the claim.
According to T.S. Vijayan, Chairman of IRDA (Insurance Regulatory and Development Authority), the increasing
numbers of claim rejections are a result of gap between the need of people and products offered by health insurers.
So your effort as a policyholder should be to minimize any
chance of claim rejection by divulging all information regarding your health.
It is one of the common reasons
of claims rejection and that is the clauses are not understood by the customers and they make claims which are not anapplication or can not be passed.
Just wanted to confirm that now if i pay the extra premium after getting my medicals done, wheteher the chances
of claim rejection are less?