Coverage and exclusions that insurance policies have

An insurance policy is nothing more and nothing less than a tool that will provide coverage and keep you protected in certain economic aspects of your life. It is thought that an insurance policy only works in case of death, but no, there are different reasons why you can purchase a life or health insurance policy; they are between them:

Policy coverage

  • Hospital protection in case of an emergency or accident
  • Health and hospitalization coverage
  • Funeral expenses
  • Disability policy
  • Maternity coverage
  • Medication expenses
  • Coverage against claims
  • Compensation for death
  • Compensation for family expenses (depends on the policy)

Insurance Policy Exclusions

There are certain clauses that must be met in order to be a beneficiary of the policy coverage, if they are not met, there is a possibility that the benefit will be denied or excluded. Some cases can occur if:

  • Participate as a driver or as a companion, in official car or motorcycle races or training for them.
  • Intervene in submarine operations or voyages.
  • Practicing or making use of aviation except when the insured travels as a passenger provided with his/her ticket, in aircraft of airlines duly authorized to transport passengers and in the case of flights included in a regular itinerary.
  • Risk sports that have not been reported in your insured profile as practically the same.

Note: Some insurance policies exclude death by suicide or death by active member of war conflicts.

Death exclusion

There are certain clauses where the insured excludes the payment to the insured (in this case to his relatives or person who disposes) of the payment of his compensation for death. An insurance company may deny payment of a policy if:

  • The person self-harms (death by suicide),
  • Accidents under the influence of alcohol or drugs
  • Death by illegal act
  • Fights or street brawl
  • Death due to drug abuse

These are just some of the main reasons why they can cancel life insurance, however, remember that to prevent this from happening you must have a good insurance broker who advises you and indicates everything you should not do so that you can have a policy with coverage without exceptions

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