Even if you unintentionally provide inaccurate information, it can work against you when it comes to insurance. It’s crucial to ensure accuracy in details such as your address, documents, habits, hobbies, and other important information.
Concealing pre-existing conditions can have adverse consequences if exposed. When completing your insurance application, it’s crucial to openly disclose any pre-existing medical conditions.
Individuals overlook the importance of thoroughly reading their insurance documents. This oversight can have significant consequences during the claims process when they discover that certain expenses are not covered by the plan.
If the policy has lapsed, the insurance company is not entitled to pay you any claim. Hence, you should ensure that the policies are renewed on time.
Every insurance policy has a claim amount limit, which is subject to the sum assured, as mentioned in the policy document. You cannot claim any amount beyond that limit. So, any claim over and above the sum assured will be rejected
