Close
Close

Buy a Life Insurance Plan in a few clicks

Now you can buy life insurance plan online.

Kotak Guaranteed Fortune Builder

A plan that offers guaranteed income for your future goals. Know more

Kotak e-Term

Protect your family's financial future. Know more

Kotak Assured Savings Plan

A plan that offer guaranteed returns and financial protection for your family. Know more

Kotak Guaranteed Savings Plan

A plan that offers long term savings and life cover. Know more

Kotak e-Invest

Insurance and Investment in one plan. Know more

Kotak Lifetime Income Plan

Retirement years are the golden years of life. Know more

Close

Get a Call

Enter your contact details below and we will get in touch with you at the earliest.

  • Select your Query

Thank you

Our representative will get in touch with you at the earliest.

Reasons Why Term Insurance Claims Get Rejected

A term insurance plan is a cover that offers financial security to your loved ones in case something unfortunate happens to you.

  • Jun 20, 2019
  • 6,761 Views

A term insurance plan is a cover that offers financial security to your loved ones in case something unfortunate happens to you. It provides guaranteed financial security to your family during your absence. It is available at an economical cost and the sum assured will be paid to the nominees at the time of the death of the policyholder during the term period. A term plan is an ideal addition to your portfolio and is a must-have for every adult. It is allocated after the insurance provider validates the viability of investment for an eligible individual. This means that individuals in a high-risk category will have strict terms and conditions. This could have an impact on the claims made by a high-risk policyholder. Explained ahead are instances when a term insurance claim is denied by the insurance company.

Reasons why term insurance claims get rejected

Listed below are a few probable reasons that lead to the rejection of a term insurance claim.

  • Withholding of information

This is one of the most common term insurance claim rejection reasons. When you purchase a policy, it is important to declare all the information clearly and honestly. If there is any mistake or a deliberate effort to withhold any information, it could have serious repercussions in the future resulting in the rejection of your term insurance claim.

  • Hiding information about the previous insurance policies

It is important to disclose information about your current, as well, previous insurance policies. If you do not disclose this information to the insurance company, there are chances of your claim being rejected. The disclosure of information does not depend on the sum assured. When you purchase a policy, you need to disclose all the relevant information.

  • Providing wrong information about employment

Insurance companies declare a list of jobs in their policy terms that fall under certain professions, which are considered as high-risk. This includes employment or jobs linked to a hazardous environment. If you are engaged in one of the jobs mentioned in their portfolio, you need to disclose about the same. If you do not disclose correct information, your claim might be rejected in the future.

  • Sharing incorrect information about medical history

If you default in your medical test or submit incorrect medical information, your term insurance claim might be rejected at a later stage. It is very important that all the tests are done and correct reports about the medical condition are presented to the insurance company. You need to disclose all the information about your medical history and submit the necessary reports.

If you provide correct information to the insurance company about your employment, health, and medical conditions, there will be minimal chances of rejection. However, if you deliberately hide any information or misstate the information, you will end up with a rejection of your claim. Double check the information you provide the insurer and ensure that you have not missed anything important.

Kotak e-Term

Download Brochure

Features

  • Life Cover till 85 years for Life & Life Secure Option
  • 3 Payout Options
  • Special Rates for Women
  • Option to exit the policy with premium refund at the age of 60*
  • Special Rates for Non-Tobacco Users
  • Free Medical Check Up every 5th year**

Ref. No. KLI/22-23/E-BB/2435

T&C

- A Consumer Education Initiative series by Kotak Life

Similar Articles

Why Should You Buy Term Insurance in 2022?

Salient features of a Term Insurance Plan

Make Your Online Term Plan Your Familys Monthly Payout

1 करोड़ का टर्म इंश्योरेंस प्लान क्या है?

Term Insurance: Smokers vs Non-Smokers

A Term Insurance Guide for Disabled People

Steps on How to Buy Term Insurance Online

टर्म इंश्योरेंस क्लेम प्रक्रिया

What Is the Correct Age to Buy Term Insurance?

Choose the Nominee of a Term Life Insurance Plan Wisely

Is it Worth Buying Disability Rider on Term Insurance?

Why Term Plan Should Be The First Step To Securing Your Future?

5 Things To Consider While Buying Term Insurance Plan

Term Insurance vs Life Insurance: Understand the Difference and Benefits

How Much Term Life Insurance Cover Do I Need in India?

4 Methods to Calculate How Much Term Insurance You Need

How Does Short-Term Life Insurance Work?

Should you buy a Renewable Term Life Policy?

Do I Need to Give a Medical Test for Term Insurance in India?

What is Salary Protection Insurance and Why You Need It

All About Term Insurance Inbuilt Coverage

Can You Increase Your Term Insurance Cover?

Why Should New Parents Buy Term Life Insurance?

Can I Make Changes to My Term Insurance Policy Post Purchase?

Difference Between Term Insurance and Endowment Plan

Make Your Online Term Plan Your Family's Monthly Pay Cheque

Why Should You Rethink Short Term Insurance Plans

Key IRDAI Regulations That Changed Face Of Term Insurance Industry In 2020

Term Plan with Spouse Cover

Term Insurance Claim Process

What is a short term insurance policy?

Term Insurance Tips for NRIs in India

Can Non-Resident Indians (NRIs) Buy Term Insurance In India?

टर्म इंश्योरेंस बनाम लाइफ इंश्योरेंस: अंतर और लाभ समझें

Advantages of Buying Term Insurance in Your 50s

Should You Have Multiple Term Life Insurance Policies?

Term Insurance With Riders In India

Why Should You Add a Rider to a Term Insurance Plan?

What Are the Best Term Insurance Plans for Planning Retirement?

Term Insurance Trends You Must Know

Documents Required for Term Insurance

Term Life Insurance Plan for Smokers vs Non-Smokers

Insurance Policy for Housewife In India

Term Insurance Claims – Make Sure Your Claims Are Never Rejected

How to choose the right term insurance plan

Increasing Term Insurance and Riders

वरिष्ठ नागरिकों के लिए ऑनलाइन टर्म इंश्योरेंस प्लान खरीदने के लिए गाइड

What is Term Insurance?

Why should single women purchase term life insurance?

What is the Right Term Period For Term Insurance Policy? Here's How You Should Choose!

Top 3 Reasons Why You Should Buy A Term Plan Now

Should You Buy a Term Plan After 40?

Online vs Offline Term Insurance - A Comparison

क्रिटिकल इलनेस राइडर के साथ टर्म इंश्योरेंस के लाभ

Term Insurance with Critical Illness

Do Beneficiaries Pay Taxes on Term Insurance?

Which Death Types are Covered by Kotak E-Term Plan?

Does Term Insurance Cover Accidental Death?

Is There Any Tax Benefit on Term Insurance?

Why You Must Include In Your Financial Planning?

How Does Term Life Insurance Work? Learn the Benefits

Should Youngsters, Working Couples Buy Term Insurance Plans?

Term Insurance As A Gift | Perfect gift for your Loved ones

Term Insurance vs. Endowment Plan: Know the Differences

How To Evaluate Your Term Insurance Quote?

Terms and Conditions of Term Insurance Plans

What is Critical Illness Policy?

Is Term Life Insurance Plan Worth?

Understanding Term Insurance Riders

Is Death Due to Covered by Term Insurance?

Can Senior Citizens Avail Term Insurance?

Buying A Term Insurance Plan? Take These Factors into Account

Term Insurance Calculator - Everything You Need To Know

Why Buy Term Insurance Plan With a High Cover?

Term Life Insurance Vs Money Back Life Insurance

Zero Cost Term Insurance Plan: What is & Should you buy it?

टर्म इंश्योरेंस क्या है? टर्म इंश्योरेंस का मतलब

What Is Staggered Payment Option Under Term Insurance Policy?

4 Reasons Why You Need Critical Illness Cover

Eligibility Criteria for Buying Term Insurance in India

Age Limit for Term Life Insurance

Busting Myths and Facts About Term Insurance Policies

Can I Extend the Tenure of My Term Insurance Plan?

Why does every working women need life insurance?

Term Insurance Comparison – What Should You Look Out for?

How to Find the Best Term Insurance Plan in Seven Steps

Smart Steps to keep in mind while buying term policies

Tax Benefits of Term Insurance in India

How to Buy 1 Crore Life Insurance Policy Without Medical Test

Can a Housewife Buy a Term Insurance Plan - All You Need to Know

When is the Right Time to Buy Term Life Insurance Policy for Yourself?

Take 100% Responsibility for Your Family with Term Life Insurance

Everything about Incremental Term Life Insurance Policy

Top 5 Features of Term Insurance

How to Buy ₹1 Crore Life Insurance Policy Without Medical Test?

5 Term Insurance Benefits for Single Women

4 Things To Expect From Your Term Insurance Plan in India

Want to surrender your term insurance policy? Here's a guide

How to Identify Term Insurance According to Your Needs?

How do I Calculate My Term Insurance Premium

Why Buying a Term Plan Is Smarter Than Traditional Life Insurance Products

5 Things to Consider When Buying Term Insurance, if you are Single

Why Buy Term Insurance Even at Rising Rates?

Can You Get Term Insurance Without Income Proof?

Individual Life Insurance vs. Group Term Life Insurance

How Not To Get Your Term Insurance Claim Rejected

Term Insurance Vs Car Insurance: A Budgetary Choice You'll Regret

10-Year Term Life Insurance Policy - Explained in Detail

Term Insurance Plans and Policies for Smokers

Is Group Term Life Insurance Provided By Employer Sufficient?

Are The Add-ons and Optional Features of Term Insurance Plans Actually Beneficial?

Endowment Plans vs Term Plans: Understanding the difference

Guide for Buying Online Term Insurance Plans for Senior Citizens

₹75 Lakh Term Insurance

Importance of Term Insurance at Every Stage of Your Life

Is ₹1 Crore Term Insurance Good Enough Cover?

Types of Deaths Not Covered by Term Insurance

Term Plans are Definitely Cheaper than You Think!

How To Choose the Right Sum Assured Under a Term Plan?

भारत में जीवन बीमा कितने प्रकार के होते हैं?

Term Insurance: Most Common Term Insurance Myths Explained | Kotak Life

Term Vs. Whole Life Insurance: Which One You Should Buy in India?

Is It Good To Buy A Term Insurance Plan In 2022?

8 Factors to consider before choosing a Critical Illness Insurance

Advantages & Disadvantages of Term Insurance in India

Surrender Term Life Insurance Policy

How Does BMI Affect Your Term Insurance Premium?

What is a term insurance plan with a return of premium, and how does it work?

जीवन बीमा पॉलिसी लेने की प्रक्रिया क्या है?

Calculating Term Insurance Premium

Should Retirees Buy Term Insurance?

8 Benefits of Term Insurance You Should Know

Can You Buy Multiple Term Insurance Policy?

Family Protection Term Insurance: Safeguarding Your Loved Ones

Difference Between Short-Term and Long-Term Insurance

Why 1 Cr Term Plan Is Necessary For Family?

Factors to Check Before Buying Life Insurance in India

9 Most Frequently Asked Questions on Term Insurance

5 methods to calculate how much term insurance you need

Various Term Insurance Premium Payment Options Available in India

Why Term Insurance Is Important in times of COVID-19?

Can I Get Term Insurance on Behalf of My Spouse?

Alzheimer's Disease and How It’s Covered Under Health Insurance

Different Types of Premiums in Term Insurance?

Can NRI Buy Life Insurance in India?

All you need to Know about Term Insurance Plans for housewives

Why Premium Amount for Term Insurance is So Low?

Which is better limited pay or regular pay in term insurance?

Benefits of Short-Term Life Insurance Policy

Should you have more than one nominee in your term insurance?

Why Term Insurance Is Must For Parents

Term Insurance for Home Loan: How Term Plan Helps in Paying Off Home Loan?

Term life insurance: Should you opt for lump sum payout or staggered payout?

Term Insurance: What Happens When You Don’t Pay Your Premiums?

What is a Joint Term Insurance Plan? Key Benefits of Joint Term Plan

Can I Buy Term Insurance for a COVID-19 Patient?

What Is a Passive Income? Why Should You Use It to Buy a Term Plan?

How Does Term Life Insurance Work? Learn the Benefits

Key Differences Between Term Insurance, ULIPs, And Health Insurance

6 Reasons That Make Term Insurance a Must Buy

Reasons You Need Term Insurance Plan as a Self-Employed Person

What Are Insurance Riders and How to Choose Them in a Term Plan?

Why One Must Buy Term Insurance before 25 Years

₹1.5 Crore Term Insurance

What Happens to Term Insurance Plan With No Beneficiary - Kotak Life

Why Should You Not Take A Term Plan Without Medical Test in India?

How to Compare Term Insurance Online

Things To Do After Buying Term Insurance

Why is it important to buy term insurance plan?

How To Choose the Right Term Insurance Plan?

Why You Need to Know About the Critical Illness Plan?

₹2 crore Term Insurance

Everything About Claim Settlement Ratio for Term Insurance

Why Married People Should Buy Term Insurance Under MWP Act?

How Much Cover Should I Take In A Term Plan?

Hiding vital facts while buying term insurance? Claims may be rejected

Is term Insurance Needed for People With No Dependents?

Here's why Renewal of Term Plan is Important

Term Insurance Basics You Should Know

5 Reasons to Buy Term Insurance When You are in Your 30s

Joint vs Individual Term Insurance: Which One Should You Choose?

Why Term Insurance Is Better Than ULIP?

Do term insurance policy have a waiting period after buying?

6 Types of Death not covered in Term Insurance Plan

What All Documents Required For Term Insurance In India?

Which Death Type Does Your Term Plan Not Cover?

What Types of Deaths Are Covered in a Term Insurance Plan?

While Buying Term Insurance Compare Features, Not Just Premiums

Cost of Term Insurance Likely to Increase Soon

Is it a Good Time to Buy Term Insurance During the COVID-19 Pandemic?

What Should be the Right Term Insurance Plan Duration?

How To Change The Nominee in Term Insurance?

Is a Term Insurance Policy Portable?

Know the many types of life insurance policies in India

Gift Your Father A Term Insurance Plan This Father's Day

Renewable Term Insurance

How to Buy a Term Life Insurance Online

Why Renewal of the Life Insurance Policy is Important?

9 Questions You Should Ask Before Buying Term Insurance

How Much Term Life Insurance Cover Do I Need?

Why Should You Buy Term Insurance under the MWP Act (Married Women’s Property Act)?

Why Online Term Insurance Plans Cheap?

Buying A Term Insurance? Don't Ignore the Claims Settlement Ratio