There is a huge increase in complaints across the industry due to the Covid-19 pandemic that followed. Although insurers have streamlined claims and most of them are also settled. Due to coronavirus, several insurance policies covering COVID-19 were recently released.
Depending on the type of policy, policyholders can make insurance claims through cashless mode or reimbursement. In the latter case, the insured must pay for the expenses and obtain reimbursement of the expenses from the insurer, submitting the claim form.
Although there are several reasons related to the rejection of greedy health insurance policy claims. Parag Raja, Director and CEO of Bharti AXA Life Insurance lists the main reasons why a COVID claim may be disapproved:
Inactive / prescribed policy
To keep a policy active, the policyholder needs to pay a premium in a timely manner. Failure to pay premiums in a timely manner leads to policy lapse. If death occurs in this case, the life insurer may deny the claim.
Non-disclosure of pre-existing diseases
If the policyholder has a pre-existing serious illness, for example, the policyholder was suffering from cancer before the policy was issued and this was not disclosed during policy purchase, insurers may disapprove to honor the claim.
Many insurers said they are primarily trying to resolve all genuine claims. If one insurance company rejected a policy claim for unclear reasons, individuals may file a claim.
Meanwhile, India recorded the highest number of Covid-19 fatalities in a single day, with 6,148 new deaths in the past 24 hours. However, the daily peak of coronavirus cases remained below the 1 lakh mark for the third consecutive day, as only 94,052 new infections were registered during a 24-hour period, according to data from the Ministry of Health of the Union updated today.
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