Personal Finance
Insurers can't repudiate delayed claims until the reasons of delay are specifically ascertained, recorded and the insurer is satisfied that the delayed claims would have otherwise been rejected even if reported on time
Updated : Aug 15, 2018, 06:50 AM IST
I can empathize with the situation. While there are some companies which may not offer you a Cancer policy if there has been a family history of Cancer, there are some which may still cover you for the same. Alternatively you can look at critical illness policies which also cover cancer as one of the ailments. These policies usually do not have such restrictions.
No, Life Insurance Companies do not mandate for any such information sharing as long as you have been diagnosed of the ailment post issuance of the policy.
Insurers can't repudiate delayed claims until the reasons of delay are specifically ascertained, recorded and the insurer is satisfied that the delayed claims would have otherwise been rejected even if reported on time. Hence, you can and you should apply for the claim settlement.
The writer is deputy CEO, IndiaFirst Life Insurance
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