login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

17. What are top reasons for decline of claims?

mahindra-finance-author

by Mahindra Finance

|

January 6, 2025

|

1 mins read

An insurer can decline a claim due to the following reasons:

  • Non-disclosure: if a person did not completely disclose any past or present medical condition or lifestyle habit, such as smoking or drinking
  • Claim Made in Waiting period: The person files a claim even though the waiting period is not over for the particular disease
  • Policy in Grace Period: If a person hasn’t renewed the policy before the expiry date, the policy enters a grace period, where the insurer isn’t liable to pay claims

Related articles

Best Commercial Electric Vehicles In 2023

The craze for passenger Electric Vehicles (EVs) is at an all-time high, with home-grown and global brands coming out with a slew of products in the Indian electric mobility segment. However, the comme...

KNOW MORE

June 29, 2023

Fixed Deposit For Early Home Loan Repayment: Accelerating Mortgage Payoff

Owning a home is a cherished dream for many Indians. However, repaying a home loan over an extended period can be daunting. If you wish to achieve financial freedom sooner and reduce your long-term in...

KNOW MORE

April 17, 2024

What Is Venture Capital And How Does It Work?

If you’re an entrepreneur looking to take your business to new heights, you may have heard about venture capital. Venture capital is a form of equity financing that can provide the funding and s...

KNOW MORE

April 22, 2024