It's a presentation on reasons for declining insurance policy

1. Reasons for decline of
insurance claims
Earth
.
Vidisha Maru
Siddhi Bhor
Atharva Tamboli
Mounika Pantagani
Runal Birhade

2. Term Insurance
Term insurance is a life insurance product, which offers
financial coverage to the policyholder for a specific time
period. In case of death of the insured individual during the
policy term, the death benefit is paid by the company to the
beneficiary.

3. Can a Term Insurance Claim be Rejected?
Instances excluded from term life insurance coverage:
● The policyholder's death by undisclosed pre-existing health conditions or injuries.
● The policyholder's death, where the nominee plays a direct or indirect role.
● The policyholder's death resulted from the influence of drugs or alcohol.
● The policyholder's death due to adventurous activities such as racing and
paragliding, among others.

4. Non Disclosure
Or
False Information

10. Absence of nominee details
● Failing to update the nominee details calls for a list of documentation to prove line
of succession.
● This process is cumbersome and creates hindrances in insurance claim
settlement.
● If the insurance company cannot verify their legal heir, it may lead to claim
rejection.
● Indraneel chatterjee , Co-founder of Renew Buy , said “sometimes , claim
settlements can also get rejected in the absence of a nominee.
● If the policyholder forgets to update the nominee name, it can lead to claim
rejection.
● In many instances, the nominee would not know that he is entitled to claim and
reaches out to the insurer very late when the claim investigation becomes difficult
or impossible.”

11. Untitled nominee
● Naming a nominee in your insurance policy is an important step to ensure
financial security of your loved ones .
● This simplifies the claim settlement prcess, provides clear intent regarding
disturbing the death benefit , and reduces legal complexities.
● Consider your choices carefully , review and update your enrollment
periodically ,and keep essential records in order.
● By doing so , you can ensure that your life insurance policy serves its
intended purpose of providing financial security and peace of mind to your
beneficiaries .

12. Undisclosed
Insurance Policies

13. Conflict between
two insurance companies

17. THANK YOU