 Posted: Fri Dec 26, 2008 4:43 am Post subject: exclusion clause |
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Do exclusion caluses on life insurance contracts really work in India (from the insurer's point of view).
for example, If I am an insurer and apply an exclusion on, say blindness resulting from any condition, while issuing a critical illness cover (which covers blindness), can the insured party stand to claim on any grounds when he becomes blind? How would the ombudsman treat it if the insured filed a petition to win the claim? Are there any chanes of him winning?
request only members who have specific legal knowledge on this to reply. |
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karoly
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| Posted: Sun Dec 28, 2008 1:15 am Post subject: |
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| Quote: | | Do exclusion clauses on life insurance contracts really work in India (from the insurer's point of view). |
Yes, an exclusion clause really works.
The insured person would have to sign an amendment to the policy EXCLUDING death by certain events, such as IF the insured is a private pilot or has a dangerous avocation such as mountain climbing or hang gliding.
| Quote: | | for example, If I am an insurer and apply an exclusion on, say blindness resulting from any condition, while issuing a critical illness cover (which covers blindness), can the insured party stand to claim on any grounds when he becomes blind? |
Now I'm confused with your post. 
Life insurance pays when the person dies, not because they went blind, unless you are mixing into the equation Accidental Death & Dismemberment.
| Quote: | | How would the ombudsman treat it if the insured filed a petition to win the claim? Are there any chances of him winning? |
Ombudsman for what?
The contract would state what's covered.
There really aren't any exclusions with medically underwritten life insurance in the USA.
So except for being a private pilot or having a dangerous avocation you are either dead or alive.
I have no idea how they handle things in India. My advice would be to contact an agent in India.
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GarySpicuzza
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