And yet, each policy is filled with "exclusions" and "restrictions" on when claims will, and will not be paid. Drive and die while over the limit, and your insurer may decide not to pay the beneficiaries of your life insurance policy. Don't get me wrong. I love insurance. My dad, who took his insurance seriously, died young, so I know the value to a family. * Rob Stock: Overcoming 'Bag Lady Syndrome' But you have to approach insurers with your eyes wide open, and that means reading the policies you buy to ensure you know what you are covered for, and the times when insurers will decline your claim. Reading your policies is the only cure for the magical thinking that many people bring to insurance, which pretty much amounts to this: If something bad happens, the insurer will pay. Well, this top ten should open anyone's eyes that that is not always true. 1. Your errors: The insurer wants to know everything about the risk it is taking one, including, often, the minute details of your health history. Best to attach a full copy of your medical notes to any life/trauma/disability/health/critical illness policy application, to shut off the risk of your insurer tearing up your policy for "non-disclosure" at claims time. 2.
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