The concept of insurance, in general, is a contract between an insurer and the insured, based on a number of principles. One of those principles basically establishes that both parties involved in the contract must act with utmost good faith. To say it in simpler terms, the policyholder must exercise complete honesty and accuracy when providing information to the insurer, who is also responsible for being honest and transparent in their service to the former.
However, while this may be the right thing to do, many policyholders tend to forget this very principle and end up providing their insurer with incorrect or incomplete information. That, in most cases, leads to a rejection of their claim, be it for a life insurance policy, a health insurance plan, or even a motor insurance plan. That is just one of the many reasons why insurance claims get rejected. Here, we will shed some light on the other reasons which can earn you a rejection on your insurance claim.
Reasons For Life…