5 Reasons Why Your Term Insurance Application Could Be Declined | Mint Primer | Mint

Term insurance is a contract where a life insurance company undertakes to pay a specific amount of money known as a sum assured to the nominees of the person who has taken the insurance. The premiums are low and the amount of sum assured is high.

Since this is a product that involves huge risks for insurance companies, the process involved in obtaining term insurance is quite complicated and requires a lot of documents and proofs.

Many times, it so happens that a company has denied the application for term insurance even when one has submitted all the required documents and proofs.

In this video, we are going to cover the reasons why a term insurance policy application may be denied by the insurance company.

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