Policy rejected for medical history logging back more than 10-12 years?

16 Mar, 2023 | by Nitin Soni

I have a LIC policy running for more than a year and now I have applied for term plan from LIC, have done medical test and medical verification and in medical verification I have stated that I was admitted in hospital way back around 2011 and had a minor hairline fracture around 2009. Now they have rejected my term plan because I didn't disclose these details in previous policy. Right now I don't have any pr-existing conditions nor do I smoke or drink. So does the medical history logging back more than 10-12 years valid reason for policy rejection.

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16 Mar, 2023

Shailesh Kumar

CEO, Insurance Samadhan

Dear Nitin

Insurance is a Proposal and acceptance contract . It is upto LIC whether they accept or not . No one can force LIC .

Ypu can try another company .

Hope you understand

Shailesh

Insurance Samadhan

2 Comments

17 Mar, 2023

Nitin Soni

So there is no proper guidelines for insurance company how far medical history they should take into account in a event if a person forget to mention while taking the policy?

17 Mar, 2023

Shailesh Kumar

CEO, Insurance Samadhan

Dear

Insurance contract works on principle of utmost good faith .

So proposer need to declare all medical details. Insurer may ask additional information or send for medical report .

Insurer contracts also work on section 45 of indisputability which means that Insurer can dispute claim in first three years only and after 36 months clai cannot be denied on account of non disclosure.

Hope you are clear now

Shailesh

Insurance Samadhan

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