How would be the scenario of insurance claims in the event of Natural Calamities? I pray that God should forbid what I am saying, but if something like Japan incident happens in India, will the insurance companies reject the claims? Are there any examples or case studies learnt from other countries during such kind of Disasters regarding the Claims of Life/Health insurance policies??
Particularly, when people have taken policies with large amounts of Sum assured through Term plans? Please throw some light on this. If the insurance companies decline such claims, what is the use of Insurance? One may say that, the calamities are rare to happen. But unfortunately, Natural as well as man-made disasters are often seen in India too, with the prediction (scientific & astrological also) of more things yet to happen.
How is the Life insurance sector going to deliver during the odd times?