Insurance Limitations

[Nova]

We have one app here named gcash that is being used for paying various bills. And that app also has the option for the insurance of various types. However when I look at the app for the payment. That has brought me some of the limitations for the insurance. Like when and which context it is not going to pay for the insurance amount. And that means the system has plenty of limitations. And that would be the case where you may not find much output when the insurance is being claimed. It is more likely to get denied.

Take example of the insurance claim where you get some of the damage on the body due to trekking and the workout etc. And those type of the insurance wont pay you in such insurance. And some of the insurance also do not pay you due to you have some of the hereditary type of the disorders. I think the case with the limitations is that we often don't look at because that document is pretty big and covers a lot of small details.

So when you pay for such insurance on the apps and the website make sure to read the limitations of the insurance document.

 

[Mandy96]

The truth is, when people hear about insurance, especially the people that are insured, they usually have this kind of feeling of being immune to loss. It’s a kind of over confidence that is really obvious in them. You have to know that there are limitations to this too. So you don’t to be too excited

 

[Richee84]

Getting and insurance policy is good for everyone, most developed countries don't joke with their insurance law. The insurance company help to share your risk and compensate you when the risk occur. There are different type of insurance policy and is better for everyone to have better knowledge and understanding of all this insurance policies before buying any of them.

It is good to read the insurance policy very well before you purchase and sign any documents. The type of insurance you are purchasing will be specify in the term and condition before you sign them. Most people don't take their time to read through the entire document given to them , they just know that they have purchase a particular insurance policy.

People always believe that purchasing a particular policy means they can make claim when things happen to them outside the coverage of their policy. Policy holder must know that they must not default in the payment of their premium at the right time. A defaulter might have challenges claiming his or her benefit from insurance company.
Some policy holder some time provide wrong information about them which is a breech of the contract. An insurance company will not pay anybody that is guilty of fake or wrong information.