Go for group life insurance cover if policy rejected, say analysts

You can opt for insurers with easier underwriting, or alternatively, a standard term

Purchasing a life insurance policy has become more difficult in recent times. To recoup losses sustained during the pandemic, many insurers are raising premiums. They have also been following more stringent underwriting norms, say industry insiders.
 

Naval Goel, founder-CEO of PolicyX.com, says: “Insurers have tightened their underwriting standards over the past year; 20-30 per cent of term insurance proposals get rejected due to a variety of reasons.” When you apply, your application could be rejected, postponed, or you could be deemed uninsurable.
 

Rejection: Proposals can get rejected due to several reasons. They include: Existence of an ailment deemed critical by