123ArticleOnline Logo
Welcome to 123ArticleOnline.com!

ALL >> Insurance >> View Article

When Your Life Insurance Policy Won't Pay

By Author: Easy policy
Total Articles:

Most often the spouse of the deceased person is the beneficiary (or his family members as provided at the time of buying the life insurance policy). It is therefore important for you as the insured person to get your beneficiaries acquainted with the fact of the policy, and how a claim should be filed.

Here is what you need to do to educate the beneficiaries, so that they will not be put to hardships later when you will not be around to help them.

Associate the beneficiaries very early before you buy a life insurance policy. This will help them to file a proper claim in the event of the unforeseen happening.

Get the beneficiary/beneficiaries to sit with you when an insurance agent calls at your home. This is to get the beneficiaries get acquainted with the agent. You should remember that your agent is the person who will be helping the beneficiaries to claim the money due on insurance.

Introduce the agent to every member in your family, and make him promise to do his best to get the claim processed for the family – remember that you will not be around.

After you pay every annual/monthly/quarterly/half-yearly premium for the life insurance give the receipt to one of your family members for safe keeping. A lost receipt, though not a big issue, can cause trouble in some situation. It is always best to keep all records straight and in order at all times.

Ask your insurance agent to explain your family the circumstances under which a claim can potentially be denied. This will help your family not to make an unwarranted claim for money in the event of the insurer’s death.

Here are some reasons that can void a claim for insurance benefits

The person whose life is insured commits suicide or deliberately creates a situation for his premature death.

The person engages in activities that are very risky – like for example participating in dangerous sports like boxing, wrestling, sky jumping and stunts.

The person fails to disclose facts about his actual state of health at the time he buys the life insurance policy, or falsifies documents to obtain insurance. Misrepresenting can also lead to claims getting denied.

The person fails to pay the prescribed premium amount the life insurance within the stipulated period for each installment.

As a rule, people who buy insurance on their life must ensure that all information they provide is clear and verifiable. It is good for their family. A well-prepared claim is never denied.

Compare term insurance plans online and get higher sum assured to cover your family at a lowest cost. We provides best offers from leading insurers in India.

Total Views: 77Word Count: 441See All articles From Author

Insurance Articles

1. How Commodity Trading Tips Can Benefit Your Trade
Author: Santosh Sharma

2. Top Five Ways To Reduce Car Insurance Premiums
Author: Brijesh B.

3. Various Ways By Which Truck Insurance In Las Vegas Provide Suitable Insurance To Customers
Author: Michael McCullough

4. No Deposit Auto Insurance At Lowest Rate Easy To Avail Online In Canada Now
Author: Victor Cano

5. Check How Life Insurance Proves To Be A Life Protector For Non-doms?
Author: Brijesh B.

6. A Brief Guide On Claim Process At Star Health And Allied Insurance
Author: Coverfox Insurance

7. Contact Insurance Agents In Northern California For Best Solutions
Author: mikeheige

8. Which Kind Of Life Insurance Coverage Should You Get
Author: Ross Barkely

9. Why Physical Damage Coverage Is Essential For Car Owners In Us?
Author: InsuranceTrak

10. What To Do When Your Car Insurance Expires?
Author: Nansi Bhardwaj

11. How Can Content Affect The Development Of Insurance Business?
Author: Jaye Williams

12. Choosing The Right Insurance Company
Author: Michael McCullough

13. The Commercial Insurance Northern California Company Offers Best Practices To Safeguard The Clients’
Author: mikeheige

14. Your Two-wheeler Insurance Covers Any Sudden Emergency Expenses
Author: Nansi Bhardwaj

15. How To Generate Health Insurance Leads Of Highest Quality
Author: Iradiusgroup


Login To Account
Login Email:
Password:
Forgot Password?
New User?
Sign Up Newsletter
Email Address: