Insurers can deny health insurance claims in case of incorrect disclosure

If you contract a disease few years after buying the policy, it is not mandatory to disclose it. But, if you want to increase the sum assured, then premiums could go up sharply

Incorrect disclosure is the chief reason for repudiation of health insurance claims. A complete disclosure of pre-existing diseases and your family’s history of ailments is essential at the time of buying a policy as it enables the insurer to understand the nature of risk it is undertaking, and hence arrive at the correct premium. If knowingly or unknowingly, you don't make correct disclosures, you could be denied a claim in your hour of need. According to Jyoti Punja, chief customer officer, Cigna TTK Health Insurance, "If the policyholder makes the disclosures upfront during the process of underwriting, there won't be