Look out! Hidden traps in life policies can deprive you of compensation!

Poles are increasingly investing in Life insurance, treating them as financial collateral for their loved ones. Unfortunately, many of them do not realize hidden liability exemptionswhich may consequence in the refusal to pay compensation in the event of an event covered by specified clauses.

What are life insurance liability exemptions?

Exclusion of liability These are clauses contained in the General Insurance Conditions (WOWU), which specify situations where the insurer is not liable for events leading to payment of the benefit. They are an integral part of the insurance contract and should be carefully analysed before it is concluded. Unfortunately, many insured persons pay no attention to them, which can lead to bad consequences.

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The most common exclusions of liability in life policies

Among the most common exclusions in life insurance are:

• Suicide in the first 24 months of the policy: Many insurance companies do not pay the benefit in case of death of the insured individual due to suicide if the event occurs within the first 2 years of the conclusion of the contract.
• Criminal activities of the insured person: Death or wellness harm resulting from an insured person's engagement in the crime may consequence in a refusal to pay compensation.
• Participation in terrorist attacks, warfare or riots: These events are frequently excluded from insurance, which means that they are not entitled to benefit if they occur.
• Staying under the influence of alcohol or narcotic substances: Accidents or incidents occurring while the insured individual is under the influence of alcohol or another psychoactive substances may consequence in a refusal to pay compensation.
• Abnormal negligence: Events resulting from gross negligence, specified as leaving electrical devices on without supervision, may be the basis for refusing to pay the benefit.

How to avoid traps in life insurance?

To defend yourself against unwanted refusals to pay compensation, it is worth taking the following steps:

1. Accurate analysis of OWU: Before signing the insurance agreement, delight read the General Insurance Conditions in detail. Pay peculiar attention to the sections on liability exemptions.
2. Consultation of the insurance adviser: Take the aid of a specialist to aid you realize the contract and indicate possible risks.
3. Adjustment of policies to individual needs: Choose a scope of protection that meets your real needs and lifestyle to minimize the hazard of refusing to pay your benefits.

What to do if you refuse to pay compensation?

If the insurer refuses to pay compensation, it is worth taking the following steps:

• Appeal against a decision: Submit a written appeal in which you will give details of your position and possibly include additional papers confirming your arguments.
• Complaint to the Financial Ombudsman: If the appeal fails, you can ask the Financial Ombudsman for aid to resolve the dispute with the insurer.
• Judicial proceedings: The final consequence is simply a judicial way where an independent body decides whether to refuse compensation.

Having a life insurance policy is an crucial part of the family's financial security. However, it is equally crucial to be aware of the choice of insurance, taking into account all its aspects, including the exclusion of liability. delight note that careful contractual analysis, consultation with an expert and adjustment of the policy to individual needs can defend you from refusing to pay compensation at hard times.