In this blog we will explain out all the possible reasons that could lead to rejection of your insurance claim.
Getting your term insurance rejected could be the worst situation for your family after your demise. And this could bring a huge financial crisis over them. Term insurance policy has plenty of do’s and don’t that insurance agents hardly made you aware. Handing you a couple of pages and believing that you have understood all the conditions is usually how they works.
Here are some of the reasons for insurance claim rejection:
1. Hiding your Medical History
If you have a pre-existing medical condition like a fatal disease, mental illness, internal or external injury, drinking and smoking habit, or anything that could be impacting your life later on, has to be shared with the insurer. If you hide any of these conditions, possibility will be that your term life insurance policy will be rejected. This is because your condition is considered to be a higher risk, and insurers will often view you as a liability.
2. Hiding your Criminal Record
If you have a criminal record, it is possible that your term life insurance policy will be rejected. This is because insurers often view criminals as a higher risk, and you may be seen as a liability.
4. You have a history of substance abuse
If you have a history of substance abuse, it is likely that your term life insurance policy will be rejected. This is because substance abuse is often seen as a higher risk, and you may be seen as a liability.
5. You are considered to be high-risk
If you are considered to be high-risk, it is possible that your term life insurance policy will be rejected. This is because you are seen as a greater liability, and insurers will often view you as a higher risk.
If you’ve been rejected for term life insurance, it can be frustrating and confusing. After all, you’ve been paying your premiums faithfully for years, and now you’re being told you’re not eligible for coverage.
There are a few reasons why this could happen, and luckily, there are steps you can take to improve your chances of being approved for coverage.
One of the most common reasons for rejection is a pre-existing condition. If you have a condition that the insurance company deems to be high-risk, they may refuse to provide coverage.
If you’ve been rejected for term life insurance, the best thing you can do is talk to an agent about your options. They may be able to help you find a policy that will provide coverage, even if it’s not through the company you originally applied with.
Inso Quotient can help you understand the specific reasons why you were rejected for term life insurance. We’ll also help you find other options for coverage, so you can get the protection you need.
There are a number of reasons why your term insurance policy may be rejected by the underwriter
1. You have a pre-existing medical condition.
If you have a pre-existing medical condition, the underwriter will take a close look at your medical history to determine if you’re a high-risk applicant. If they determine that you’re a high-risk applicant, they may reject your application.
2. You’re a smoker.
Smokers are considered to be high-risk applicants because they’re more likely to develop health problems later in life. If you’re a smoker, the underwriter may reject your application.
3. You’re overweight.
Being overweight is another factor that can make you a high-risk applicant. If you’re overweight, the underwriter may reject your application.
4. You have a dangerous occupation.
If you have a job that’s considered to be high-risk, the underwriter may reject your application. Some examples of high-risk occupations include piloting a plane, working in a mine, or being a police officer.
5. You have a history of traffic violations.
If you have a history of speeding tickets or other traffic violations, the underwriter may view you as a high-risk driver. This could lead to your application being rejected.
If your term insurance policy is rejected, don’t despair. There are a number of different options available to you. You may be able to find another insurer who’s willing to provide you with coverage, or you may be able to get a policy with a higher premium.
There are a few reasons why term insurance might be rejected by an insurance company. The most common reason is that the applicant doesn’t meet the company’s underwriting criteria. This can be due to health reasons, lifestyle choices, or a variety of other factors.
If you’re not sure why your term life insurance application was rejected, the best thing to do is to contact the insurance company directly. They should be able to give you more information about their decision. In some cases, you may be able to reapply for coverage at a later date.
There are many reasons why term insurance may be rejected by an insurance company. The most common reason is that the applicant has a pre-existing medical condition that makes them ineligible for coverage. Other reasons can include poor credit history, a history of substance abuse, or a high-risk occupation.
How Inso-Quotient helps you fighting you rights?
Inso Quotient helps in rejected claims by providing a platform for people to connect and share their experiences. This helps people to learn from each other and avoid making the same mistakes.
If you’ve been denied insurance coverage for a treatment or procedure, it can be extremely frustrating. After all, you’ve been paying into your plan for years, and you expect your insurer to be there for you when you need them.
Unfortunately, denials are becoming more and more common, as insurers are increasingly looking for ways to cut costs. If you find yourself in this situation, don’t despair. There are ways to fight back and get the coverage you need.
One of the best ways to appeal a denial is to work with a company like Inso Quotient. We specialize in helping people navigate the complex world of insurance, and we have a proven track record of success in getting denied claims paid.
We’ll work with you to understand the reasons for the denial and to gather the evidence you need to support your case. We’ll then help you present your appeal in the most effective way possible