Insurance Awareness - Health Insurance
Which of the following is TRUE about disclosure of pre-existing diseases when applying for health insurance?
Which of the following is TRUE about disclosure of pre-existing diseases when applying for health insurance?
easy Q2 of Q15
Step-by-Step Solution
Step 1: Understand disclosure requirements
IRDAI mandates full disclosure of pre-existing diseases to ensure transparency.Step 2: Consequences of non-disclosure
Failure to disclose can result in claim rejection or cancellation of the policy.Step 3: Evaluate options
Non-disclosure can lead to claim rejection or policy cancellation correctly states the consequence. "Non-disclosure can lead to claim rejection or policy cancellation", "Disclosure increases the waiting period to 5 years", and "Disclosure guarantees immediate coverage for the disease" are incorrect or misleading.Final Answer:
Non-disclosure can lead to claim rejection or policy cancellation → Option AQuick Check:
Full disclosure is essential to avoid disputes during claim settlement.
Quick Trick: No disclosure = No claim.
Common Mistakes:
MISTAKES- Assuming minor diseases need not be disclosed or disclosure reduces waiting period.
Master "Health Insurance" in Insurance Awareness
Start learning the concept with an interactive lesson.
Want More Practice?
15+ quiz questions · All difficulty levels · Free
Free Signup - Practice All QuestionsMore Insurance Awareness Quizzes