Wrong Nomination Details:

You have to make someone as your nominee and then over the years you forget to update it in your insurance policies in case the nominee themselves have deceased. This is a very common reason why your insurance claim can be rejected in the future. For instance, while you are single, you may have your parents as nominee, but as years go by, you get married and have kids and it maybe that your parents are no more and in that case you may have to change the nominee name.

Carelessness While Going Through the Policy Document:

Always remember to go through all your policy details thoroughly, and keep a track of when your policy is being signed and also when the document is sent to you. Usually insurance companies have a window of 15-30 days in which you can either stop the policy or make changes in case of mistakes while filling the policy. Always read your policy terms and conditions carefully and fill your personal information with zero errors.

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