A life insurance policy gives a significant serenity for an individual if they’re concerned about what could happen to any financial dependents if the unexpected happens. Regardless of whether it’s to make sure about the paying off of a home loan or to provide a lump sum for others to support themselves with, there are a lot of reasons why a person may opt for life insurance. Nonetheless, it is conceivable that a life coverage claim can be refused.

What is the possibility of being declined for a claim?

Life coverage payout rates are entirely high, although there are a few cases where your claim could be void and the payout won’t be released. Probably the greatest concern individuals have about taking out a life coverage strategy is the danger of not paying out. Be that as it may, regardless of these worries life cover arrangements have a generally high payout rate. Even though the details show there should be no stress over your life cover policy being void and your payout being declined, you despite everything shouldn’t become smug with regards to following terms of your protection strategy. The most regular explanations behind life protection not paying out are:

  • Non-disclosure of medical conditions
  • Suicide (most life insurance policies, do not cover suicidal deaths within the first 12 months from the policy start date)
  • Outliving your term life insurance policy
  • Diagnosis of a terminal illness (this often results  in an early payout less than the sum assured)
  • Moving abroad
  • Concealing information on your application (e.g. smoking, dangerous hobbies/occupation)

What can be done if your claim is denied?

This is infrequently the situation, however, if you’re one of the unfortunate individuals, at that point there are things you can do to challenge the decision. Initially, you should address your protection claims supplier, following their official process. If this doesn’t have any effect, at that point you are entitled to take your case to the autonomous authority and monetary administrative body, the Financial Ombudsman Service (or the FOS). They will sit in judgment on your case and conclude decide who is right, after looking into both sides of the argument or stand-off.



We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00
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