There are cases when travel insurance claim is rejected. Want to know about such cases that may become the reason of your travel insurance rejection?
This article includes all the important cases by which your travel insurance policy can be rejected. Before proceeding on to the reasons for claim rejection let us know, what is travel insurance? Travel insurance policy is a type of general insurance that are the most selling product in the market. It is very beneficial for the person who travels frequently because it saves the policyholder against several extra expenses incurred due to travel-related unfortunate events. Some of the common benefits and coverage offered under travel insurance plan are: It bears the expenses incurred due to –
Now, Read Some Possible Reasons for Travel Insurance Claim Rejection: 1. Read all the Exclusion of the policy This is the common mistake we do while purchasing the policy. So, if you are only aware of the benefits and coverage of the policy you are only aware of one side of the coin. Make sure that you read about the exclusion very carefully. It might be possible that your most important requirement falls under the exclusion list of the travel insurance policy. Claim filed for anything that is included in the exclusion list will get rejected. 2. Claim beyond the Coverage The travel insurance claim can be rejected if you file a claim for anything that is more than the coverage offered under the policy. Always claim according to the coverage offered under your travel insurance policy because this might becomes the reason of claim rejection. 3. Claim for Critical Illness Almost all the travel insurance policy covers the policyholders against sudden illness, but it might be possible that the policy does not cover the expenses incurred due to critical illness. Before buying travel insurance policy make sure that you discuss your medical history with the insurer and be sure whether the policy covers critical illness. In case your policy does not cover critical illness the claim filled for the same will be rejected. Let us take an example of the best travel insurance policy in the market; ICICI Lombard Travel Insurance ICICI Lombard travel insurance plan takes only 5 business days for claim settlement. It offers a different kind of benefits and coverage under its various travel plans. ICICI Lombard insurance offers different types of travel insurance policy that covers the policyholders against different travel destination. It understands that you need some important types of coverage whether you are travelling within the country or abroad. There are three types of ICICI Lombard Travel insurance plan; International Travel Insurance, Senior Citizen Travel Insurance and Travel Insurance – Gold Multi Trip. But there are some factors that can become the reason of claim rejection. Read below the important reason due to which ICICI Lombard can reject your travel insurance claim.
Make sure you do not file a claim for coverage that are not offered under the policy. You can easily check this availability online. Read the details of the travel insurance carefully when you are buying a new policy. Do not forget to read about its exclusion list because this will give you a fair idea of factors that can become the reason of your travel insurance claim rejection.
0 Comments
Leave a Reply. |
AuthorInsurance and financial manager. Archives
May 2018
Categories |