Insurance Mistakes That Can Cost Your Family Dearlyet Here
Insurance is supposed to protect your loved ones when life takes an unexpected turn. But a surprising number of claims are delayed or denied not because of fraud, but because of simple mistakes made at the time of buying or maintaining policies. Here are the five most common mistakes we see at HRCS India, and how to avoid them so your family’s financial safety net stays strong.
Choosing Policies Only on Price
Cheaper isn’t always better. Low premiums often mean: Lower cover amounts. More exclusions and conditions. Higher renewal hikes after a few years. Tip: Compare benefits and exclusions, not just premiums.
Not Disclosing All Information Honestly
If you hide medical conditions, smoking habits or other risk factors, the insurer can legally reject a claim. Always disclose everything truthfully.
Ignoring Hidden Exclusions & Waiting Periods
Read the fine print on: Pre-existing diseases. Waiting periods for maternity or specific illnesses. Limits on room rent or procedures. Knowing these upfront avoids nasty surprises later.
Wrong or Outdated Nominee Details
Many policies still have an old nominee (e.g. parent instead of spouse) or no nominee at all. This creates delays and disputes during claim settlement. Review your nominee details every year.
Not Linking Insurance to Major Loans
If you have a home loan, consider an insurance cover that repays the loan if something happens to you. Without it, your family could lose the property.
How HRCS India Helps
on selecting the right life, health & loan-linked insurance. Explaining policy exclusions and claim processes clearly. Periodic policy reviews so your nominee details and coverage stay updated.
Protect your family from costly insurance mistakes
Contact HRCS India: Conclusion Insurance should bring peace of mind not hidden shocks. By avoiding these five mistakes and getting expert guidance, you ensure your family receives the protection you intended.
