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    sachil's Avatar
    sachil Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Jan 11, 2009, 08:28 AM
    Claim if insurance
    I am planning to take a term plan from a private insurance company. For this I have to pay rs. 14000 for 25,00,000 Sum Assured.
    Would you suggest me that if any claim occurs, can insurance company deny to pay the claim if yes .
    Why?
    Is there any rule that if a policy inforce for at least five years the company cannot deny to pay the claim
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Jan 11, 2009, 08:35 AM

    A company cannot deny a claim if the claim meets the terms of the policy. So you need to read the policy carefully to determine under what circumstances a claim will be paid or denied.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Jan 11, 2009, 08:49 AM

    There are many terms in life insurance, you first can not lie on the application, many do not cover acts of war and any illegal act. So if you were killed robbing a bank it may not.

    Other plans have waviers that do not cover suicide for 3 to 5 years.

    So the exact terms will be what you are obligated to
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