Life insurance is an economic protection that supports the beneficiaries of the holder before their impending death. But there are some situations that the insurer considers as invalid in order to have access to these types of benefits. Do you want to know which ones? Here we tell you.
Exclusions from a life insurance contract must appear in the contract itself. Generally, there are not too many exclusions in life policies, but each insurer can include whatever they want. It is important that they read the contract carefully and clarify whether each exclusion is general or for one of the specific guarantees.
Understanding these contracts is not always easy, so it is important to hire insurance policies through professionals, agents or insurance brokers, who can easily resolve this type of doubt. And demand that what they tell you by word be shown in writing in your contract.
Are life insurance good?
Yes! They always are. All insurance is because it benefits and prevents in case of some unforeseen. Particularly in the case of life insurance, it is not that you will enjoy them, but they are ideal if you want your family or beneficiaries to be economically protected by the time you are no longer.
General restrictions of life insurance
Among the life insurance restrictions you can find the following:
This is the most common restriction. It means that in case of suicide life insurance will not be paid for reasons of lack of reliability, that is, they do not know for sure if you hired the insurance to obtain the benefit.
That the policy is newly signed
Many insurers restrict the payment of life insurance until the policy is at least 6 months after being hired. This has to do with the previous point, they are not sure that the owner has contracted the insurance for prevention or already knew that he would die in a short time, which constitutes a fraud.
Defaults or payments due
Nor is it paid for life insurance if at the time the holder dies owing the premium or part thereof.
If you are going to buy life insurance, it is convenient that you know these situations because of your non-payment to your beneficiaries.