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The cases when a life insurer may refuse in insurance indemnity

Life insurance policy is a product that helps people in their most difficult moments. However, there are many scenarios, in which insurance companies may cancel policies or refuse in insurance indemnity. An article in the American publication Money lists the reasons an insurer may deny the claims.
The cases when a life insurer may refuse in insurance indemnity
  • If death of the insured occurred due to suicide or intentional murder by the insured’s beneficiary;
  • If the insured concealed information about their health or lifestyle when concluding an insurance contract. Inaccurate information will sooner or later become known to the insurer, and this may cause a refusal in insurance indemnity;
  • If the insured has not fulfilled their obligations under the insurance agreement (for example, has not paid insurance premiums);
  • If the insured event occurs after the expiration of the policy;
  • If the policyholder dies while committing a crime, their beneficiaries will not receive the inheritance. This option also applies in cases of drug overdose and drunk driving.

Since the 9/11 terrorist attacks, the U.S. life insurance industry has undergone a significant shift resulting in the inclusion of provisions that exclude insurance coverage for deaths resulting from acts of war or acts of terrorism.

Life insurance policies purchased in the United States may not provide worldwide coverage. Some life insurance policies have limitations based on location. As you prepare to travel or move abroad, check the geographic limitations in your policy.

Source: https://money.com/reasons-why-life-insurance-wont-pay-out/

Photos are from open sources.

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