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Term insurance policy declined after few months

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13 Aug, 2021 by  Rajesh kumar

Dear Beshak Team,


I bought a term insurance of 1 CR. Insurer did medical test and all and issued the policy, but after 3 months they declined the policy and refunded back the premium. They just informed me that they found some ailment in background check but what exactly, they didn’t tell me even after multiple requests. Fact is, I have none. The insurance agent unofficially informed me that my H1Ab level (three month sugar level) was 6.7 and that could be the reason ( he internally checked that ). Hearing this, I got my medical examinations done myself and I found I don’t have that level of H1Ab even now (it came as 5.8) , it seems all normal. I guess that was a wrong result in their medical test then , but even if it was 6.7 of H1Ab it can’t be a basis of the decline of the policy, as some online search indicates that’s a okay level of H1Ab and insurer considers that level fine.Don’t know what should be my next step now. I am really keen on getting a policy from a different insurer now but not sure if they would too decline it or will charge a higher premium as this one was declined. Any input will be highly appreciated. Thank you 🙏

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13 Aug, 2021

Hey Rajesh,


Manoj Pandey ji from our expert panel at Beshak is the right person to comment.


Now my 2 cents on your last 2 questions:

  1. Yes you should be able to apply for insurance to another insurer. As of now rejection from one insurer does not automatically result in rejection by other insurers.
  2. Regarding the premium, practices vary among insurers. So it doesn't make sense infact to even worry about premium at this stage as your worry should be on getting a term policy.


Anuj

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Thanks Anuj.


Dear Rajesh ji. H1bc reading of 6.7 is termed as diabetic by life ins co in Indis. It is not only your health parameter but your family background also gets involved. If your parent had something related like diabetic / BP / early death etc ( as shared in your proposal form) the impact gets componded. Anuj ji has given a right advise you may try somewhere else.

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