Everyone needs personal financial advice, focusing on matters related to life insurance. Perhaps you know of someone, or perhaps you have been in this position yourself where you have taken out a life insurance policy on a loved one, but the claim gets rejected.
We’re sure you never want that to happen to you or your family, so an expert is here to give some insight on how to avoid this situation.
Johan Ferreira, Chief Legal and Compliance Officer at African Unity Life spoke to Bonnie Mbuli and said there are four basis reasons claims get rejected.
If the policy holder passes away within that waiting period they will not be covered. The second one is that insurers will exclude some pre-existing conditions. The third one is if you are working in a dangerous area give that information to your insurer because they can still cover you and the last one is when people miss their premiums.— Johan Ferreira,Chief Legal and Compliance Officer at African Unity Life
Click below to listen further on why policy claims get rejected:
This article first appeared on CapeTalk : How to avoid insurance cover rejection