WHAT REASONS CAN CLAIM AN INSURER TO REFUSE PAYMENT OF LIFE INSURANCE?

WHAT REASONS CAN CLAIM AN INSURER TO REFUSE PAYMENT OF LIFE INSURANCE?

If the terms of the contract are met, collect life insurance compensation not should be no problem. But, in some cases, it may be the circumstance that has not met any of the terms or given circumstances why the insurance company reject the claim of the beneficiaries of life insurance.

Then we will see what are the reasons for which an insurer may refuse to pay the insured capital.

Cases in which an insurer may deny payment of life insurance

• POLICY MATURITY

If they have been paying life insurance fees, the insurance contract ceases to exist. Stop paying insurance fees may be due to many reasons, but regardless of the reason, if the fee is not paid by the deadline occurs the maturity of the policy and the beneficiaries will not have right to collect any kind of compensation, and all the amount paid previously shall be in favour of the insurer.

• FRAUD

When the insurance company detects that there may be some kind of fraud for part of the insured or beneficiaries it shall reject the payment of compensation. This fraud can range from providing incorrect data about the State of health (pre-existing illness) or the economic capacity of the insured when the policy, was contracted to alteration of the reason for the death of the insured, among others.

• DOCUMENTATION ERRORS

Some errors in the official documentation may be the refusal of the payment of the capital locked in life insurance. It is the case of the death certificate, an official certificate that must be duly completed by the accredited personnel. Also the lack of provision of the required medical documentation may result in the rejection of the claim by the insurance company.

• DEATH BY SUICIDE

Death by suicide is not always included in life, and in your case, this type of contingency have a deficiency of a year that will prevent the collection of policy not fulfilled.

• DEATH OF THE INSURED CAUSED BY THE BENEFICIARY

If the death of the insured is voluntarily caused by the beneficiary the insurance company will not pay the insured capital.

• ARMED CONFLICTS:

If the death occurs in the course of a war the insurance shall be paid the insured capital.

• PRACTICE OF EXTREME SPORTS:

If not you have declared that you participate in competitions of bike cycling or motoring, aerobatics, parachuting, diving, montanista more than 3,000 meters, toreo... and you pass the insurer can refuse delivery.