Request a demo for a perfect solution apt for your business. Take this journey with us to improved growth!

Success

Download Link Sent to Your Inbox

Big News! 🚀 Zopper Secures $25M in Series D Funding! Click Here to Read More

What are Exclusions in Insurance?

Zopper Team Basics of Insurance January 8th, 2024
Exclusions in Insurance

An insurance policy can offer relief in the form of financial security against the odds of life. Along with purchasing the right plan, it is also essential to understand every term of the insurance policy you purchase. Here, exclusions are a quintessential section. 

Exclusions refer to the circumstances and conditions which are not covered in an insurance policy due to various reasons. For losses under such situations, the expenses have to be borne by the policyholder. All types of insurance policies have an exclusion clause; however, the conditions may vary a little from plan to plan. Simply put, exclusions are specific situations where your insurer does not provide coverage.

Exclusions in Life Insurance

A life insurance policy offers a sum assured in case the insured passes away during the tenure of the policy. However, there are certain conditions in which the death of the insured is not compensated by the life insurance provider, like:

  • Suicide 

  • Participation in life-threatening activities (for instance, adventure activities)

  • Death due to pregnancy complications

  • War-related death

  • Involvement in illegal activities

  • Death due to illegal driving

Exclusions in Health Insurance

A health insurance policy covers the medical expenses of the insured up to the sum insured limit. Certain medical conditions are not covered in the policy, such as:

  • Cosmetic surgery, unless required after an injury/ illness

  • Self-inflicted injuries/suicide attempt

  • War-related injuries

  • Claims during the waiting period of the policy

  • Dental treatment

  • Pre-existing diseases (until the waiting period)

Exclusions in Motor Insurance

A motor insurance policy covers the cost of repairing your insured vehicle in case of any damage. However, a few conditions typically, remain out of the coverage of a motor insurance plan, like:

Health insurance and life insurance are two essential plans that are advised to everyone, while third-party motor insurance is mandatory as per the Motor Vehicle Act, 1988. Before you purchase any kind of insurance, make sure you have a thorough understanding of the exclusions of the policy. 

share this article

Recommended articles

Basics of Insurance | June 5th, 2023
Insurance is an essential component of financial planning and risk management. It provides a safety net against unexpected events and uncertainty that can have significant financial consequences.General insurance, also known as non-life insurance, is one of the most common forms of insurance that covers a range of risks such as property damage, liability, motor, and travel insurance.General ins...
Basics of Insurance | June 29th, 2023
Business insurance helps to protect companies from financial harm and workplace hazards that could happen in the business. Every potential danger that your company can encounter is covered by insurance. The costs and coverage options offered by insurance companies vary. You should talk to your insurance broker or agent about the types of insurance products that are available, as per your speci...
Expert Op-Eds | June 29th, 2023
The Insurance Industry is currently undergoing a rapid digital transition. Insurers now have access to a larger variety of information due to the digital transformation of this sector. Insurance businesses can effectively use this data with the use of data science to increase sales and improve their product offerings.Data science can help insurers do a lot of things, including creating personal...
Basics of Insurance | June 29th, 2023
In today's world, education has become more important than ever, and pursuing higher studies often requires financial assistance. Fortunately, several Edtech companies have emerged in recent years, offering education loans to students. These companies understand the financial challenges faced by students and provide them with convenient loan options to support their educational aspirations...

Newsletter

Be the first one to know about latest happenings in the InsurTech sector. Click below to subscribe to our newsletter!