Insurance Proposal Rejected
If any information in the insurance application form is false, incorrect or undisclosed – it results in insurance proposal rejection.
Some professions carry a higher degree of risk and danger than others and this make Insurance companies reluctant to approve policies for people working in what is considered a particularly hazardous occupation. Additionally , there are other common grounds for rejection also, namely – age, pre-existing diseases, income, filing up of incorrect details or non-disclosure of facts in the issuance form and other exclusions by Insurance companies. Whatever may be the cause, if your insurance proposal gets rejected, the Insurance company has to state the reason behind its rejection.
Some professions carry a higher degree of risk and danger than others and this make Insurance companies reluctant to approve policies for people working in what is considered a particularly hazardous occupation. Additionally , there are other common grounds for rejection also, namely – age, pre-existing diseases, income, filing up of incorrect details or non-disclosure of facts in the issuance form and other exclusions by Insurance companies. Whatever may be the cause, if your insurance proposal gets rejected, the Insurance company has to state the reason behind its rejection.
The applicant has to know the reason for the rejection of the insurance application thereby enabling a provision for a plausible rectification.
While You Apply
An insurer may reject your policy proposal/application on various grounds:
Declined on medical grounds
Declined on financial grounds
Declined basis risk category
Postponement of risk acceptance
Hold tight! A decline or postponement of an insurance policy, is not the end of road for risk mitigation. You may still be eligible.
We can guide you to get adequate cover by
Risk counseling
Negotiation with insurer to re-underwrite your risk
Advise on proper product/insurer who may be willing to underwrite your risk.
