by karoly » Fri Dec 26, 2008 04:43 am
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.
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.
Posted: Sun Dec 28, 2008 01:15 am Post Subject:
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.
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.
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.
Add your comment